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Starr Cos. expands cyber insurance offerings

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Starr Cos. is introducing primary cyber insurance that provides coverage for both first- and third-party costs, the New York-based insurer said.

The company said in its statement Monday that the coverage includes network security and privacy liability, data breach notification and credit monitoring, forensics and investigations, business interruption, data recovery and repair, regulatory fines and penalties and extortion threats. The coverage complements Starr’s existing excess cyber insurance capabilities, the insurer said.

According to a fact sheet, the Security & Privacy Risk Response coverage now offers up to $15 million primary or excess limits capacity, and includes duty to defend coverage, with minimal settlement opportunity restrictions, among other highlights.

Numerous targeted classes of business range from architects and engineers to wholesalers, while excluded classes include payment processing, gaming, social networking, money center banks and adult websites, Starr said in its fact sheet.

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