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OneBeacon Professional Insurance and NetDiligence Enter Relationship Regarding Online Cyber Risk Resource Portal

MINNETONKA, Minn. –(PRNewswire) Feb. 4, 2013 — OneBeacon Professional Insurance (OBPI), a member of OneBeacon Insurance Group (NYSE: OB), today announced that eRiskHub® is now available to its Network Security and Privacy Liability policyholders. eRiskHub® – provided by NetDiligence – is an online cyber risk portal designed to assist companies in their evaluation of data security risks and their management of data breaches, network attacks and other cyber events.

“Intellectual property, client data, trade secrets and personally identifiable information help to manage and streamline business functions and transactions,” points out David Molitano, Vice President of OneBeacon Professional Insurance’s Content, Technology and Services Division. “However, they also represent high-value targets for hackers. We are providing access to the eRiskHub® portal to our customers to enable them to consider options when seeking to prevent a data breach and reacting promptly should one occur. We feel strongly that the informational and educational aspects of eRiskHub® will be extremely helpful to our insureds.”

The eRiskHub® portal is designed to provide up-to-the-minute cyber risk information and other powerful features such as:

  • Risk Manager Tools – self-help for managing cyber risk, including a cyber risk assessment survey, breach notification guides, what-if modeling tools to estimate the cost of a breach and research tools to monitor the type, frequency and severity of incidents occurring in a particular business sector.
  • Incident Roadmap – suggested steps that may be appropriate following a network or data breach incident.
  • NewsCenter – articles on major breach events, security and privacy blogs, IT security updates, risk management events and helpful industry links.
  • Learning Center – a library of articles, white papers and webinars from leading technical and legal practitioners.
  • eRisk Resources – a directory that may help in finding third-party resources with expertise in pre- and post-breach disciplines.

“Whether by hacker, computer glitch or staff mistake, most companies are at risk for a data breach incident,” said NetDiligence President Mark Greisiger. “The key is whether a company can handle the incident calmly, quickly and effectively. eRiskHub® provides tools, materials and access to experts that may help a company in its efforts to mitigate the damage.”

The Network Security and Privacy Liability policy is primarily underwritten by one of the following insurance companies: Homeland Insurance Company of New York or Homeland Insurance Company of Delaware.

About OneBeacon Professional Insurance:

OneBeacon Professional Insurance is a member of OneBeacon Insurance Group that specializes in professional liability solutions for targeted industries including hospitals, long-term care facilities, medical facilities, physician groups, media organizations, lawyers, real estate professionals, design professionals, financial services and technology providers. Additionally, OneBeacon Professional Insurance provides employment practices liability insurance, management liability and tailored products for complex organizations including health care provider excess insurance and HMO reinsurance. General liability, property and workers compensation coverages are also available for financial institutions.

About OneBeacon:

OneBeacon Insurance Group, Ltd. is a Bermuda-domiciled holding company that is publicly traded on the New York Stock Exchange under the symbol “OB.” OneBeacon’s underwriting companies offer a range of specialty insurance products sold through independent agencies, regional and national brokers, wholesalers and managing general agencies. Each business is managed by an experienced team of specialty insurance professionals focused on a specific customer group or industry segment. OneBeacon’s solutions target professional liability; ocean and inland marine; entertainment, sports and leisure; excess property; environmental; group accident; programs; public entities; commercial surety; technology; and tuition refund. For further information about our products and services visit: and to remain up to date on OneBeacon’s news, follow us on Twitter @OneBeaconIns or visit our online newsroom:

About NetDiligence®:

NetDiligence’s cyber risk assessment services are proven, reliable safeguards for corporate and financial institutions whose success relies on computer resources, information assets, and the least possible network liability risk.

Our panoramic cyber security assessment approach identifies potentially ruinous e-perils such as:

  • System and process vulnerabilities
  • Hacker exploits
  • Privacy policy violations
  • Web content intellectual property infringement

Since 1998, our team—industry veterans from IBM and EDS—has pioneered proprietary security techniques that combine cutting-edge technology with traditional risk management principals. As a result, we have assessed and tested hundreds of business and community banks for network liability insurance qualification purposes.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included or referenced in this release which address activities, events or developments which we expect or anticipate will or may occur in the future are forward-looking statements. The words “will,” “believe,” “intend,” “expect,” “anticipate,” “project,” “estimate,” “predict” and similar expressions are also intended to identify forward-looking statements. These forward-looking statements include, among others, statements with respect to OneBeacon’s:

  • change in book value per share or return on equity;
  • business strategy;
  • financial and operating targets or plans;
  • incurred loss and loss adjustment expenses and the adequacy of its loss and loss adjustment expense reserves and related reinsurance;
  • projections of revenues, income (or loss), earnings (or loss) per share, dividends, market share or other financial forecasts;
  • expansion and growth of our business and operations; and
  • future capital expenditures.

These statements are based on certain assumptions and analyses made by OneBeacon in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors believed to be appropriate in the circumstances. However, whether actual results and developments will conform to our expectations and predictions is subject to a number of risks and uncertainties that could cause actual results to differ materially from expectations, including:

  • claims arising from catastrophic events, such as hurricanes, windstorms, earthquakes, floods, or terrorist attacks;
  • recorded loss and loss adjustment expense reserves subsequently proving to have been inadequate;
  • the continued availability and cost of reinsurance coverage;
  • the continued availability of capital and financing;
  • general economic, market or business conditions;
  • business opportunities (or lack thereof) that may be presented to it and pursued;
  • competitive forces, including the conduct of other property and casualty insurers and agents;
  • changes in domestic or foreign laws or regulations, or their interpretation, applicable to OneBeacon, its competitors, its agents or its customers;
  • an economic downturn or other economic conditions adversely affecting its financial position including stock market volatility;
  • actions taken by ratings agencies from time to time, such as financial strength or credit ratings downgrades or placing ratings on negative watch;

the risks that are described from time to time in the Company’s filings with the Securities and Exchange Commission, including but not limited to the Company’s Annual Report on the Form 10-K for the fiscal year ended December 31, 2011 filed February 28, 2012 and its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2012 filed October 30, 2012.

Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by OneBeacon will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, OneBeacon or its business or operations. OneBeacon assumes no obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or otherwise.


SOURCE OneBeacon Insurance Group

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