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Member, Beacon International Group, Ltd.
Berkshire Hathaway Specialty Insurance Co. has launched cyber liability insurance in New Zealand.
The policy covers business interruption and third party liabilities a policyholder faces from a data breach, rectification expenses, and emergency response costs incurred by policyholders using BHSI’s breach response team, BHSI said Wednesday in a statement.
BHSI will partner with Mountain View, California-based cyber security company Symantec Corp. to provide incident response services to policyholders, according to the statement.
Additionally, Auckland, New Zealand-based Ian Marshall will lead the product line as senior underwriter, executive and professional lines. Previously, Mr. Marshall was senior underwriter, liability center of expertise at Lumley General Insurance, according to the statement.
The Christchurch City Council in New Zealand is negotiating more insurance cover for its $6.3 billion New Zealand ($4.5 billion) worth of underground pipes, reports Stuff.co.nz.