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Agents and brokers protection updated

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Allied World Assurance Co. Holdings A.G. has launched an updated policy for insurance agents and brokers amid rising errors and omissions exposures.

Features of the enhanced coverage include unlimited defense expenses, full limits punitive damages coverage, breach response and consultation services, and public relations and data forensic expenses, a New York-based spokeswoman for Allied World said Monday.

The policy offered by the North America unit also specifically includes privacy and network security coverage, according to an Allied World statement.

“The insurance agents E&O is constantly evolving, especially as the use of technology increases. This new product and the related services provide coverage designed to protect insured’s in the current environment,” Michelle Girardin, vice president of Allied World’s E&O division, said in the statement.