New Program to Enhance Miscellaneous Professional Liability Policy
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.
“In today’s business environment, every enterprise faces increased liability and regulatory scrutiny regarding adequate protection for non-public personal and confidential corporate data. A data breach can result in a significant expense for any business,” said Tom Monaghan, Senior Vice President of IronPro. “IronPro’s privacy enhancement coverage is designed to address marketplace demand for these emerging risk exposures.”
IronPro is partnering with NetDiligence® to offer eRisk Hub™ services to customers that purchase enterprise network security and privacy liability coverage.
IronPro customers will receive access to independent third party experts for legal counsel, information security, computer forensics, call center contacts, credit monitoring, and crisis management to support their enterprise risk management programs.
Ironshore provides broker-sourced specialty commercial property and casualty coverages for risks located throughout the world. Through its platform in Bermuda, including Iron-Starr Excess, Ironshore writes property and excess casualty insurance for global commercial risks. Ironshore’s U.S. operations write commercial property and casualty insurance, including a variety of coverages in the Management & Professional Liability, Healthcare Liability, Construction, Select Personal Lines and Environmental specialty areas, as well as Energy Property and Casualty within its Global division. Specialty coverages are underwritten at Lloyd’s through Ironshore’s Pembroke Syndicate 4000. The Ironshore group of insurance companies is rated A- (Excellent) by A.M. Best with a Financial Size Category of Class XIII. Syndicate 4000 operates within Lloyd’s where the market rating is A (Excellent) by A.M. Best and A+ (Strong) from both Standard & Poor’s and Fitch.
For more information, visit: www.ironshore.com.