Philadelphia Insurance Companies’ (PHLY) has launched a new Cyber Security Liability Endorsement that offers both first and third party protection for numerous classes of business.
The Cyber Security Liability Endorsement can be added to most PHLY commercial package policies with general liability coverage. Available coverages include security event costs, network security and privacy liability coverage, and employee privacy liability.
According to Kim Hamilton, vice president in the Commercial Lines division at PHLY, the new Cyber Security Liability Endorsement can be attached to virtually any PHLY-issued policy, “making it easier to attract and retain accounts that don’t require or have the budget for stand-alone policies with higher limits.”
As with PHLY’s stand-alone Cyber Security Liability coverage, the endorsement also provides coverage for customer notification expenses and credit protection services.
Philadelphia Insurance Companies designs, markets, and underwrites commercial property/casualty and professional liability insurance products.
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