April 12, 2019

Protect Your Business With Data Compromise Coverage

Data Compromise Coverage

Cybercrime activity is one of the greatest threats to every company in the world and continues to rise. A cyber attack not only breaches a company’s stored data and personal information, it may also negatively impact its profitability and reputation. That’s why ProSight offers a Data Compromise endorsement with an extensive suite of coverages and services to help companies respond quickly and effectively in the event of a data breach.   

Keeping Companies from Being Compromised 

Companies need to know the right way to respond to a data breach. It could mean the difference between keeping and losing customers. Data Compromise coverage not only helps companies comply with legal notification requirements, but can also manage the fallout. Coverage includes: 

  • Notification to affected individuals  
  • Forensic and legal analysis of the breach 
  • Public relations services 
  • Defense and Liability Coverage available for an additional premium (not available in NY) 
  • Access to ProSight’s eRisk Hub® Management Portal for effective data breach response planning 
  • Services to affected individuals, including credit monitoring and identity restoration case management 

 

The Added Value of Identity Recovery 

Data Compromise also includes Identity Recovery Coverage for key associates (CEO, partners and individuals with 20% or more ownership) at no extra cost. This offering provides a combination of valuable support services plus expense reimbursement for out-of-pocket costs associated with identity theft and fraud response, including: 

  • Legal, mailing and notary filing fees  
  • Credit bureau reports 
  • Lost wages 
  • Toll-free helpline
  • Case management support 

 

A company’s business operation and reputation hinges on the proper management of digital data. If the theft, loss or mistaken release of personal information occurs, Data Compromise coverage helps companies manage the fallout and comply with legal notifications. Solution-oriented endorsements, such as this, show how ProSight adds value that goes beyond traditional insurance coverage.   

Thomas Gordon, Director, ProSight Product Development 

Policy provisions described above are underwritten by the insurers of ProSight Specialty Insurance Group, which include NY Marine and Gen. Ins. Co., Gotham Ins. Co. and SW Marine and Gen. Ins. Co. Coverage may not be available in all jurisdictions. Actual coverage is specified in the policies issued. ProSight Specialty, 412 Mt. Kemble Ave., Morristown, NJ.