NEW YORK, NY, Sept. 15, 2014 (GLOBE NEWSWIRE) — The Navigators Group, Inc. (NASDAQ:NAVG) today announced that its principal underwriting agency subsidiary, Navigators Management Company, Inc., has launched a new Cyber Liability & Privacy/Data Breach Coverage product called “NAVSecure®,” providing pre- and post-breach solutions to cyber liability and privacy/data breach events in response to heightened demand.
“Cyber security is front-page news and every day we read about another business or government agency that has fallen prey to new, complex and increasingly sophisticated cyber crime,” said Stuart M. Kohn, Vice President of the Specialty Professional Liability division and Cyber Liability & Privacy/Data Breach Coverage practice leader. “With the legal and regulatory landscape quickly evolving alongside this burgeoning threat, and our broker partners experiencing heightened demand, we have responded by launching NAVSecure®, further illustrating our commitment to addressing the needs of our partners.
NAVSecure® provides third-party cyber liability coverage for liability arising out of a company’s media content, network security and data privacy wrongful acts, and includes key features such as:
- Coverage for expenses arising out of a privacy breach that include notification costs, crisis management, credit monitoring, identity theft restoration, regulatory and PCI fines and penalties, data restoration, and network extortion attempts
- An option for Notification Costs outside the limit of liability
- Access to a host of pre- and post-breach services via the online NAVSecure® eRiskHub®, including the ability to instantly report a breach or make a claim;
- Pre-breach consulting services provided through partnerships with a panel of expert security vendors; post-breach responses coordinated by an expert Breach Coach® and vendors from some of the leading privacy law firms and breach response firms in the country, including AllClear ID, Baker Hostetler, Cozen O’Connor, Experian Data Breach Resolution, Immersion, InfoLawGroup LLP, Kroll, Lewis Brisbois Bisgaard & Smith LLP, and NetDiligence® and their eRiskHub® data breach crisis portal.
For additional information, please visit our website at www.navg.com. Products may not be available in all states, and coverage is subject to actual policy language. The described coverage is available to qualified applicants as of the date of this release and its availability is not guaranteed for any future period. Coverage is provided by Navigators Specialty Insurance Company or Navigators Insurance Company, with offices at One Penn Plaza, New York, New York 10119.
The Navigators Group, Inc. is an international specialty insurance holding company with insurance company operations, underwriting management companies and operations at Lloyd’s. Navigators has offices in the United States, the United Kingdom and Continental Europe, as well as representative offices in China and Brazil.
This press release may contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Whenever used in this release, the words “estimate,” “expect,” “believe,” “may,” “will,” “intend,” “continue” or similar expressions are intended to identify such forward-looking statements. We cannot assure that results that we anticipate will be achieved, since results may differ materially because of known and unknown risks and uncertainties that we face. Please refer to Navigators’ most recent Forms 10-K and 10-Q and its other filings with the Securities and Exchange Commission for a description of Navigators’ business and the important factors that may affect that business. Navigators undertakes no obligation to publicly update or revise any forward-looking statement.
Business Inquiries: Stuart Kohn 212-613-4390 [email protected]
Media Inquiries: Taha Ebrahimi 914-933-6209 [email protected]