The State Auto Insurance Cos. have created a new data breach policy called Data Compromise Plus to address this growing coverage need faced by small businesses. Data Compromise Plus automatically includes coverage for defense, liability and identity recovery, in addition to the coverage for the insured’s response expenses,
Data Compromise Plus can be added to any eligible State Auto business insurance policy and includes the following benefits:
Response expense
New Mexico’s two U.S. senators are pushing legislation that would make it easier for residents affected by wildfires on federal lands to take advantage of flood insurance administered by the Federal Emergency Management Agency.
Sen. Jeff Bingaman introduced the measure last week. Sen. Tom Udall is a co-sponsor.
Under current law, there’s a 30-day waiting period after flood insurance is purchased before coverage under a new contract can take effect.
The legislation would waive the waiting period in instances where fire creates or exacerbates a new flooding problem in areas where flooding would otherwise not be considered a significant threat.
Bingaman says the monsoon season is approaching and he wants to make sure residents have adequate flood protection.
Bingaman and Udall plan to press for an immediate vote on the bill.
Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Email ThisPrintNewslettersTweetCategories: West NewsTopics: Federal Emergency Management Agency, Flood Insurance, wildfireHave a hot lead? Email us at newsdesk
Chartis has introduced CyberEdge Tower, an insurance product that provides catastrophic network security and privacy protection. It provides total aggregate limits of liability of up to $100 million that are structured to allow the insured to cost-effectively retain up to the first $50 million of loss. The solution will be delivered via the Chartis insurers’ Specialty Risk Protector insurance policy.
With growing concern about catastrophic cyber security and privacy exposures, as well as the likelihood of increased regulation and enforcement, companies are proactively addressing cyber risk and insurance disclosures. The SEC’s recent Disclosure Guidance on Cybersecurity makes it clear that cybersecurity risks should be elevated from an IT department issue to a boardroom priority. Accordingly, companies are reconsidering whether they can, or should, retain all of the potential risk of a cyber incident.
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