US insurer launches cyber liability coverage in Australia
US-based insurer Berkshire Hathaway Specialty Insurance Company (BHSI) has introduced its cyber liability insurance service to Australia.
BHSI will offer tailored insurance offerings for companies in a range of industries, including IT, financial services, law and healthcare providers. The company is targeting the service at mid- to large-tier organisations.
The company will offer coverage for business interruption and third-party liabilities arising from data breaches.
BHSI has also partnered with Symantec to offer incident response services to policyholders, with the policies covering costs incurred by emergency response using the Symantec breach response team.
To manage the service, BHSI has appointed Emma Osgood as head of cyber liability in the region. Osgood has 17 years of insurance industry experience and was previously national cyber liability and PI manager at AIG Australia.
“Our comprehensive breach response solution provides policyholders with immediate access to a team of experts to help them respond skillfully to an actual or suspected data breach,” Osgood said.
“Policyholders have access to legal experts to help them navigate their responsibilities following a breach, forensic IT services to identify and contain a breach, and public relations and credit monitoring firms to manage the reputational damage that can accompany an incident.”
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