Quantifying the Cost of Data Breaches

PHILADELPHIA, August 03, 2011 – NetDiligence®, a leading cyber risk assessment and data breach services company, announced today it has published Cyber Liability & Data Breach Insurance Claims –A Study of Actual Payouts for Covered Data Breaches.

While previous studies have shed light on data breach events through anecdotal information, the NetDiligence study uses actual cyber liability reported claims to illuminate the real costs of such incidents. The report summarizes NetDiligence’s findings for a sampling of data breach insurance claims that occurred between 2005 and 2010 in a variety of industries, including healthcare, financial services, retail, information technology, manufacturing and education.

Vela Insurance Services Announces Partnership with NetDiligence® Adding Value for Technology E and O Insureds

Vela Insurance Services is pleased to announce a partnership with NetDiligence®. NetDiligence® is a Cyber Risk Assessment Services company that works with leading insurers in the Technology/Cyber Liability marketplace.

In 2010, the Identity Theft Resource Center (ITRC) reported 662 breaches involving 16 million personal records.

IronPro to Offer Privacy Breach Liability and Expense Fund Coverage

Hamilton, Bermuda, June 9, 2010 – IronPro, the professional liability division of Ironshore Inc., announced that it will enhance its Miscellaneous Professional Liability policy with an affirmative coverage grant for Privacy Breach Liability and Expense Fund coverage to address the privacy exposures faced by a broad array of business risk exposures. IronPro’s Miscellaneous Professional Liability policy offers several features for qualified customers, including a privacy breach fund sub-limit in addition to the aggregate limit of liability at no additional cost, media liability, enterprise security, privacy liability, defense costs for privacy related regulatory proceedings, and consumer redress funds coverage following a privacy breach.

Hylant Group Offers New Resource to Manage Cyber Attack and Data Theft Risks

TOLEDO, Ohio – July 23, 2009 – Hylant Group, one of the largest privately owned insurance brokerage firms in the nation, has launched a network security and data breach portal to help its clients manage risk in this ever-changing environment of cyber attacks and data theft. Todays sophisticated and highly networked business environments are often porous, exposing organizations to new and constantly changing “e-Risk” threats and liability.

ACE USA Introduces eRisk Hub® Loss Prevention Portal to Help Policyholders Manage Privacy and Network Risk

PHILADELPHIA, April 25, 2008 — ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, announces the launch of eRisk Hub™, a web-based loss prevention resource designed to help policyholders manage their cyber risk. The eRisk Hub portal is provided to all ACE policyholders who purchase privacy and network security coverage under the ACE Privacy Protection®, ACE DigiTech® and ACE Digital DNA® product lines.