OneBeacon Professional Insurance introduces network security product

OneBeacon Professional Insurance, a member of OneBeacon Insurance Group, has launched a new network security and privacy product. The product is targeted to all classes of business that store personal information, including healthcare organizations, multimedia companies and retail companies.

OneBeacon Professional Insurance's (OBPI's) network security and privacy insurance includes coverage options such as network security liability, privacy liability, first-party business interruption and website media occurrence liability coverage, all available to clients through one standard policy form.

For qualified accounts, OBPI will offer limits up to $10 million and both primary and excess coverages are available. Specialized protection and features include: coverage for certain website media offenses; innocent insured protection; worldwide coverage; breach notification costs coverage; regulatory claim coverage; and extortion threat coverage, said OBPI.

David Molitano, vice president of technology, miscellaneous errors and omissions and media liability at OBPI, said: "With the prevalence of company security breaches and ever-changing privacy regulations, there is a heightened concern around the safety of personal information. Our goal is to help our insureds with their need to protect data and private information by offering tailored insurance solutions and forward-thinking risk management services."

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