OneBeacon Technology Group announced enhancements to its @vantage for Information Technology product designed for hardware, software and telecommunications companies.
Two primary coverage areas have been broadened to recognize the continually emerging risks technology firms face today. With OneBeacon’s data privacy protection, policyholders receive coverage for their potential failure to protect their clients’ private data and for costs associated with responding to data breaches, whether they occur in written or electronic form. Furthermore, OneBeacon provides services to help its customers mitigate potential incidents and to notify affected parties should a breach occur, including identity restoration case management and other specialized services provided by Identity Theft 911. Additional coverage extensions are also available such as proactive monitoring services, data breach ransom, data breach reward and more.
A second enhancement focuses on @vantage for information technology’s errors and omissions protection that provides financial protection to the policyholder and its clients for thepolicyholder’s failure to perform. @vantage technology errors & omissions offers protection, while the broader @vantage Plus version of the product delivers more specialized coverages.
OneBeacon Technology Group offers first- and third-party worldwide insurance products for the information technology and medical technology sectors.
InfoTech coverages feature professional liability, data privacy, products liability, and property and business income targeting the software, hardware manufacturing and telecommunications service industries.
MedTech offerings include products and general liability as well as human clinical trials, property and business income well suited for manufacturers of diagnostic and therapeutic medical devices, veterinary products and biologic devices.
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