Arch Insurance Group, a division of Arch Capital Group Ltd., has launched a new network security & privacy product. The new Arch Netsafe 2.0 is designed to protect a company’s liability to third parties and their own business income and data asset loss from network security and privacy exposures (e.g. malware, denial of service attacks, cyber extortion, unauthorized access, violation of privacy laws, etc.).
The product will be available on a stand-alone basis or may be added by endorsement to the Arch Corporate Canopy private company management liability package policy.
According to James Schibuk, vice president and National Cyber Product manager, the product includes coverage for regulatory fines and payment card industry assessments within the core Network Security and Privacy offering rather than excluding or sub-limiting them as many other policy forms do.
“Additionally, this product addresses the increasing risk that comes with the use of employee owned devices in the workplace,” he said.
The Arch Netsafe endorsement for Arch Corporate Canopy provides the coverage equivalent to the stand-alone Arch Netsafe 2.0 policy with a separate limit available.
Policyholders will have access to eRisk Hub, powered by NetDiligence, to assist them in managing their enterprise network and privacy risk. In addition, Arch has partnered with providers of legal counsel, security consulting, computer forensics, credit monitoring, call center services and public relations to offer both pre and post-breach services to its clients.
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