Ascent Underwriting has launched our 2014 CyberPro wording, which now includes two new coverage modules to further enhance our erisks solution.
Ascent Underwriting has launched our 2014 CyberPro wording, which now includes two new coverage modules to further enhance our erisks solution. The new modules provide valuable coverage for protection of intangible assets, and enhanced business interruption extending to loss of contract. In addition, coverage is now provided for electronic computer crime and fraud indemnity, incorporating protection from both third party crime and employee theft.
The new coverage is designed to bridge the gap between traditional crime policies and the business risks associated with cyber related risk. Our crime coverage includes traditional fraud reimbursement from theft of electronic funds, but also extends to cover losses where the fraud causes loss of an insured’s tangible product or merchandise, or compromises a trade secret or non-tangible asset resulting in a loss of revenue. The reputational risk enhancements will reimburse an insured for loss of income following the loss of a client or contract resulting from a network event.
CyberPro is a comprehensive modular form, which combines comprehensive miscellaneous and technology professional services with a market leading network security and non-tangible risk solution.
The new product is available for US, Canadian and UK clients and complements our other comprehensive solutions. It is part of a number of new coverage initiatives that Ascent will be launching throughout 2014.
CyberPro Highlights & Coverage Options
(all sub limits available to policy limit)
- trending_up Coverage for PCI fines and penalties
- trending_up Automatic coverage for outside vendors and cloud exposures
- trending_up Media coverage extended to cover physical products
- trending_up Social media coverage
- trending_up General liability provided at separate tower of indemnity
- trending_up Additional tower of indemnity for notification costs
- trending_up Breach claims reporting and management directly to IDT911
- trending_up Comprehensive business interruption providing coverage for programming error
- trending_up Reputational harm extending coverage to loss of contract
- trending_up etheft providing coverage for theft of electronic funds and non-tangible assets