Cyber policies from QBE target smaller companies

QBE North America, a unit of QBE Insurance Group Ltd., said Wednesday it is introducing two products designed to protect small to medium-size commercial organization from information security exposures.

CyberOne provides broad coverage that help protect the risks typical organization may face, the New York-based insurer said in a statement. It helps policyholders recover from damage to systems caused by a computer attack and provides defense and liability coverage for certain lawsuits that allege third-party damage resulting from an insured’s failure to adequately secure its own computer system, the insurer said.

Data Compromise responds to the loss or theft of information businesses keep on customers, employees and others, including related expenses and legal defense and liability costs.

 It is designed to help small and medium-size businesses investigate data breaches, notify affected individuals and provide credit monitoring, care management and other services that help prevent identity theft and fraud, the insurer said in its statement. 

Up to $100,000 in coverage is available for CyberOne and $ 1 million for Data Compromise, according to a QBE North America spokeswoman.