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Berkshire Hathaway Specialty Insurance said that it has launched two policies which provide cyber liability and breach response coverage with risk management resources in the U.S., Berkshire Hathaway said in a statement.
Both policies include coverage for third-party exposures resulting from data security and privacy breaches, breach expense and extortion threat coverage, media liability coverage, and coverage to pay lost income and related expenses resulting from the policyholder’s business’ partial or full interruption due to a network security failure, according to the statement.
Additionally, policyholders will have access to eRiskHub, an online hub which provides resources to help policyholders understand cyber exposures and help them establish a response plan to breaches, according to the statement.
“Our experienced professional liability team is providing solutions to simplify for customers the complex work of managing professional liability and cyber exposures,” Danielle Librizzi, senior vice president, head of professional liability, said in the statement.
VENICE, Italy — While the nature of cyber risk has evolved rapidly over the past two years, the actual process of buying insurance can heighten a company's exposure to cyber risks and may deter some organizations from buying the coverage, a risk manager said.