Berkshire Hathaway Specialty Insurance Co. (BHSI) announced that it has introduced cyber liability insurance in New Zealand and appointed Ian Marshall to lead the product line locally as senior underwriter, Executive & Professional Lines.
BHSI’s new cyber liability policy covers business interruption and third party liabilities a policyholder faces from a data breach, rectification expenses, and emergency response costs incurred by policyholders using BHSI’s pre-selected breach response team, the company said in a statement.
BHSI is focusing on the mid to large tier market segment and will tailor solutions for a broad range of risks.
“Our cyber liability coverage gives insureds the confidence of BHSI’s financial strength and a proven team of specialists to respond when a breach occurs or is suspected,” said Cameron McLisky, manager of Executive and Professional Lines, BHSI Australasia. “Policyholders have a market-leading team at their service to help them strategically manage the all-important response to a cyber breach incident.”
BHSI is teaming up with Symantec to provide Incident Response Services to policyholders. Symantec has a comprehensive database of internet threat data intelligence and monitors threat activity in more than 157 countries, so it can help companies to quickly identify, contain, and remediate a breach incident.
“We’re pleased to bring to market a comprehensive breach response solution that provides policyholders with swift access to experts to help them respond skillfully to a cyber incident,” said Ian Marshall, senior underwriter, Executive & Professional Lines, BHSI in New Zealand. “Policyholders have access to legal experts to help them manage their obligations following a breach, forensic IT services to identify and contain a breach, and public relations and credit monitoring firms to manage the reputational damage that can accompany an incident.”
Marshall comes to BHSI from Lumley General Insurance, where he was most recently senior underwriter, Liability Centre of Expertise. Before that he was senior underwriter, Professional Liability, at AIG Insurance New Zealand Ltd. He began his career as an underwriter in Financial Lines at AIG. Ian holds a Bachelor of Commerce degree from the University of Auckland. He is based in BHSI’s office in Auckland.
Earlier this month BHSI announced the launch of cyber liability insurance in Australia. The company also offers cyber liability insurance in the U.S.
For more information, contact Ian Marshall at email@example.com or +649 301 3914.
Source: Berkshire Hathaway Specialty Insurance
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