Allied World Revises Cyber Insurance Form
ZUG, Switzerland–(BUSINESS WIRE)– Allied World Assurance Company Holdings, GmbH announced today an enhanced Cyber Liability Insurance form. As a market leader in Cyber, Allied World offers an integrated end-to-end solution, designed to mitigate cyber risk exposures with tailored coverage, pre-breach risk management services and turnkey breach services from leading incident response vendors.
Today’s new offering provides Allied World’s U.S. Cyber policyholders with access to robust coverage, including first and third party coverages, with optional coverage for Professional and Technology Errors and Omissions.
“In today’s constantly shifting cyber environment, it is important to stay out in front of emerging exposures,” said Christian Gravier, President, North American Professional Lines division. “This new policy demonstrates our commitment to the cyber market and desire to continually evolve to address the latest cyber risks and challenges.”
“Our insureds face dynamic and uncertain exposures and Allied World strives to provide insurance protection that is equally dynamic and responsive,” said Jason Glasgow, Vice President, Cyber Lead. “Our enhanced data breach incident response and robust Business Interruption coverage – combined with the industry-leading, value-added risk management services of our Allied World//FrameWRXSM platform – will help our insureds mitigate today’s cyber exposures.”
Policy highlights include:
- Third Party Liability Coverage includes Optional Professional Services Liability AND Technology Services Liability coverage;
- First Party Liability Coverage on a discovery basis;
- Incident Response is available in addition to the policy aggregate limit, subject to underwriting review, and includes:
- First Dollar Breach Consultation;
- Data Forensics;
- Notification and Credit Monitoring;
- Public Relations;
- Business Interruption and Expense Coverage available from the time of disruption, once the waiting period is met
- Supplemental Expense Coverage;
- Up to $25M aggregate limit and no minimum premium;
- Pre-breach Risk Management Services via our award-winning Allied World // FrameWRXSM platform.
About Allied World
Allied World Assurance Company Holdings, GmbH, through its subsidiaries, is a global provider of insurance and reinsurance solutions. We operate under the brand Allied World and have supported clients, cedents and trading partners with thoughtful service and meaningful coverages since 2001. We are a subsidiary of Fairfax Financial Holdings Limited, and we benefit from a worldwide network of affiliated entities that allow us to think and respond in non-traditional ways. Our capital base is strong, our solutions anticipate rather than react to changing trends, and our teams are focused on establishing long-term relationships that are mutually beneficial. Learn more about how we can help you manage your risk by visiting: Web: www.awac.com
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