QBE North America expands suite of Commercial products
New York, NY – QBE North America, an operating division of global insurer QBE Insurance Group Limited, announced the launch of CyberOne™ and Data Compromise, as it expands its suite of products and services designed to help protect small to medium-sized commercial organizations from the growing threat of information security exposures.
Computer viruses and other cyber attacks can result in lost income and increased expenses to restore systems and recover data. With businesses at significant risk of losing critical information that is essential for daily operations, damaging their reputation and potentially exposing them to costly litigation, more companies are purchasing cyber insurance.
CyberOne™ provides broad coverage to help protect the risks typical small organizations may face. It helps policyholders recover from damage to systems caused by a computer attack and also provides defense and liability coverage for certain lawsuits that allege third-party damage resulting from a failure by the insured to adequately secure its own computer system.
Data Compromise helps a business respond to the loss or theft of the information they keep on customers, employees and others, including related expenses and legal defense and liability costs. This product is designed to help small and medium-sized businesses investigate a data breach, notify impacted individuals, and provide credit monitoring, case management and other services that help prevent identity theft and fraud.
The risk of a data breach is increasing and forty-seven states now require a company to notify individuals when their information is exposed, with potential significant costs to respond. The damage to a company's sales and reputation is dependent upon how they respond when an attack occurs.
QBE's Data Compromise insurance provides a professional response to a data breach, with personal services that consumers have come to expect, and can help defend a business or institution against lawsuits that result from the loss of information under its control. Since the coverage is included as part of a commercial property-casualty insurance policy, it's simpler and more affordable.
QBE's Commercial Insurance business offers a suite of products for mid-sized business customers, including a variety of property, casualty, and workers' compensation products. These products can also be integrated with a broad range of QBE Specialty solutions, such as Accident & Health, Aviation, Cyber, Inland Marine, Management Liability & Professional Lines, Trade Credit and Cyber. QBE's Specialty Cyber product is a solution for stand-alone professional liability, offering up to $10 million in coverage.
About QBE
QBE North America is part of QBE Insurance Group Limited, one of the largest insurers and reinsurers worldwide. QBE NA reported Gross Written Premiums in 2015 of $4.6 billion. QBE Insurance Group's 2015 results can be found at www.qbe.com/us. Headquartered in Sydney, Australia, QBE operates out of 37 countries around the globe, with a presence in every key insurance market. The North America division, headquartered in New York, conducts business through its property and casualty insurance subsidiaries. QBE insurance companies are rated "A" (Excellent) by A.M. Best and "A+" by Standard & Poor's. Additional information can be found at www.qbe.com/us or follow QBE North America on Twitter.
Contact
Carla Ferrara, Vice President, Corporate Communications & Branding, 212.497.9604, Carla.ferrara@us.qbe.com