October 4, 2016 by Canadian Underwriter
Chubb announced on Tuesday that its Integrity+ product is now available in Canada to help protect companies from errors and omissions (E&O) liability customer lawsuits alleging that their products or services caused privacy violations, intellectual property infringements or other financial injuries, including cyberattacks on their own systems, networks or data.
Integrity+ is designed for the unique risks faced by companies in the technology, life science, advanced manufacturing, healthcare information technology, clean tech and process control/integration industries, Chubb said in a press release. Integrity + is available on a claims-made or claims-made and reported policy in Canada; it is also available in the United States.
The product incorporates protection for destructive programming, cyber liability and first party expenses, and intellectual property/disclosure and reputation disparagement, along with E&O liability insurance, Chubb explained in the release. Customers can choose any combination of the following “state-of-the-art” insurance coverages, as well as options for various policy deductibles and limits:
Integrity+ also includes first party cyber insurance protection for expenses incurred in connection with a privacy data breach, such as the costs for privacy notification, forensics, remediation and crisis management, and investigation and defence of regulatory actions. These additional first party coverages are included in a basket limit of insurance up to $500,000, which offers flexibility at the time of loss to apportion insurance dollars where they are needed most. Additional limits are also available, Chubb added in the release.
“Cloud computing, big data and mobility continue to play a critical role in addressing the information needs of companies in today’s dynamic business landscape,” said Veronica Somarriba, executive vice president, technology segment manager, commercial insurance, for Chubb North America. “Integrity+ by Chubb provides companies with an enterprise-wide insurance solution to help protect against these evolving risks. This scalable product is built with the client in mind. It provides dedicated first party cyber insurance limits, allowing the client to preserve their liability limits to comply with their contractual obligations.”
Integrity+ by Chubb clients can also access cyber response coaching, along with a list of dedicated service providers, to help them manage the complex regulatory and legal processes in the event of a privacy data breach.