Risk managers and Chief Information Security Officers need to have a complete understanding of their organization’s cyber risk, which is difficult to do when most large programs are placed with multiple brokers and carriers. This is even more challenging because the constant progression of technology is bringing to light many exposures that organizations may not have identified as cyber-related in the past, like property damage, business interruption and bodily injury.
Chubb’s new suite of multiline cyber peril endorsements for the Global Cyber Facility helps risk managers address these potential gaps in their insurance portfolio, enabling risk managers and CISOs to respond to the concerns of their C-suite and Board with confidence.
Key Features
- Designed to help fill potential cyber-related risk transfer gaps between an organization’s cyber, casualty and property policies
- Fully customizable: the policy can be tailored to address a specific organization’s risk management portfolio
- Casualty Endorsement provides Difference in Conditions (DIC) insurance to the scheduled casualty lead umbrella for cyber events, including provisional protection in the event of coverage disputes
- Property Endorsement provides both DIC and Difference in Limits (DIL) insurance to the scheduled property policy for loss or damage related to cyber-triggered events
- Expert claims staff with experience handling property, casualty and cyber claims
- A single point of contact, supported by the expertise of Chubb’s multiline underwriters and claims staff, to help manage cyber-related exposures across multiple lines of insurance
A Sophisticated Cyber Solution for Sophisticated Buyers
Chubb’s Global Cyber Facility helps companies assess their cyber and data privacy risk, incorporates loss control services provided by pre-approved service providers to mitigate losses, provides access to post breach services and offers up to $100M in capacity – all in a single policy purchase.
Identifying Potential Coverage Gaps
Chubb has created an extensive roadmap of loss scenarios to help policyholders identify coverage gaps within their cyber, property and casualty policies. Developed by a team of senior underwriters, claims managers and legal representatives, it’s designed to help risk managers determine which policy could respond to a potential claim.
