QBE Expands Commercial Products to Include Cyber, Data Compromise Coverage

November 14, 2016

QBE North America, an operating division of global insurer QBE Insurance Group Limited, has launched CyberOne and Data Compromise, an expanded suite of products and services designed to help protect small to medium-sized commercial organizations from information security exposures.

CyberOne offers broad coverage to help protect the risks typical small organizations may face. It helps policyholders recover from damage to systems caused by a computer attack and also provides defense and liability coverage for certain lawsuits that allege third-party damage resulting from a failure by the insured to adequately secure its own computer system.

Data Compromise helps a business respond to the loss or theft of the information they keep on customers, employees and others, including related expenses and legal defense and liability costs. This product is designed to help small and medium-sized businesses investigate a data breach, notify impacted individuals, and provide credit monitoring, case management and other services that help prevent identity theft and fraud.

Forty-seven states now require a company to notify individuals when their information is exposed, with potential significant costs to respond. The damage to a company’s sales and reputation is dependent upon how they respond when an attack occurs.

QBE’s Data Compromise insurance provides a professional response to a data breach, with personal services that consumers have come to expect, and can help defend a business or institution against lawsuits that result from the loss of information under its control. The coverage is included as part of a commercial property-casualty insurance policy.

QBE’s Commercial Insurance business offers a suite of products for mid-sized business customers, including a variety of property, casualty, and workers’ compensation products. These products can also be integrated with a broad range of QBE Specialty coverages, such as accident & health, aviation, inland marine, management liability & professional lines, trade credit and cyber. QBE’s Specialty Cyber product is a stand-alone professional liability product, offering up to $10 million in coverage.

QBE North America is part of QBE Insurance Group Limited. Headquartered in Sydney, Australia, QBE operates out of 37 countries around the globe. The North America division, headquartered in New York, conducts business through its property and casualty insurance subsidiaries.

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