Major P&C insurer
Chubb announced yesterday that it has expanded its suite of multiline cyber peril endorsements for its Global Cyber Facility.
The Global Cyber Facility solution offers up to $100mn in capacity. On top of coverage, the solution also helps companies assess their cyber and data privacy risk, incorporates loss control services to mitigate losses, and provides access to post breach services.
Learn more about cyber insurance here.
"We continuously poll clients and brokers to ensure we're providing the insurance products and services they need,” said Chubb North America Financial Lines executive vice-president Michael J. Tanenbaum.
“After hearing of their concerns about gaps in their insurance portfolio, we developed an extensive roadmap of loss scenarios to identify these gaps within the marketplace in regards to cyber, property and casualty policies. We took the knowledge gained from that exercise to develop the Global Cyber Facility Property and Casualty Endorsements."
Want the latest insurance industry news first? Sign up for our completely free newsletter service now.
Tanenbaum added that the endorsement expansion was driven by their clients’ need for a solution that suits their specific coverage needs.
"We recognize that policies differ from carrier to carrier, and our endorsements were designed with customization in mind. Each policyholder will be able to tailor their policies to fill the gaps of their specific policy portfolios. We're also releasing our loss scenario roadmap to help them start to identify those gaps immediately."
Related Stories:
Chubb expands its equipment breakdown coverage product
Chubb announces passing of John R. Cox
.jpg)
