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International Marine Underwriters Inc., a New York-based unit of OneBeacon Insurance Group Holdings Ltd., said Wednesday it is offering cyber coverage.
The insurer said the policy offers information risk coverage to address a broad range of cyber incidents, including data breach, threat of intrusion or interference with computer systems, damage to data and systems from cyber attack and cyber-related litigation.
Coverage is available as an endorsement to an existing IMU marine policy, including yacht club, marina and commercial marine package, and certain hull and protection and indemnity policies, the insurer’s statement said.
The coverage includes first- and third-party liability coverage for threats including data compromise response expenses, computer attack, cyber extortion, data compromise liability, network security liability and electronic media liability.
Customers will also have access to cyber-specific resources and services through eRiskHub, an online risk management portal designed to help customers prepare and respond quickly and effectively to data breach and cyber attacks, the statement said.
Limits of up to $1 million are available under the coverage, according to a spokeswoman.
Zurich Insurance Group Ltd. said on Monday it is launching a cyber policy form that includes network security monitoring and prebreach services and can respond to regulatory enforcement actions under the European Union’s General Data Protection Regulation.
A federal appeals court has affirmed a lower court ruling that a OneBeacon Insurance Group Ltd. unit is obligated to pay $28 million for refusing to provide coverage to a law firm in a legal malpractice case.