QBE North America, an operating division of global insurer QBE Insurance Group, recently unveiled its new offerings aimed at helping small- and medium-sized companies protect their operations against computer threats, according to a company statement.
CyberOne provides defense and liability coverage for certain lawsuits that may arise from data breach and other computer attacks on the operations typical of a small business organization. It has provisions for recovery from systems damage caused by attacks.
On the other hand, Data Compromise provides a response plan to the loss or theft of customer, employee, and other information in their safekeeping.
Coverage also includes provision for related expenses, legal defense and liability costs. It also enables small and medium sized businesses to investigate a data breach, alert affected individuals, and provide credit monitoring, case management, and other services that will preclude identity theft and fraud.
The products are aimed at addressing an increasing demand for cyber coverage in the market. There are currently 47 states that have implemented stricter measures aimed at protecting consumer data, which have been prompted by significant costs to a company’s sales and reputation in the case of a data breach.
QBE has headquarters in Australia and operates out of 37 countries. Its North America operations reported a gross written premium total of $4.6 billion in 2015.
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