OneBeacon Launches Cyber Liability Product for Information Technology Risks

OneBeacon Technology Insurance, a member of OneBeacon Insurance Group, has introduced a modular technology professional liability product – Information Technology Solutions-Complete – to address technology companies’ exposure to cybersecurity and communication liability risks. Through its menu-driven approach, customers can customize their policy from its first- and third-party coverage offerings.

OneBeacon Technology Insurance President John Wurzler said this product also targets cloud-based services.

Policyholders will also have access to an array risk management and response services to help mitigate and manage data breach incidents. The company has partnered with several risk management organizations to offer end-to-end breach services.

Information Technology Solutions – Complete or “ITS” will eventually be written on an admitted basis in all states. Maximum coverage limits are available up to $10 million.

OneBeacon Technology Insurance offers coverage to technology, life science and medical technology, and telecommunications industries, as well as content and media companies. The specific capabilities offered include risk control, claims and thirdparty vendor solutions. Products span property, casualty, cyber, E&O, international, products liability and professional coverages.