Zurich Extends Security, Privacy Coverage to Captives

Zurich Insurance has expanded its cyber insurance product to companies and their captives to protect against risks associated with data security breaches including cyber-related breaches.

Zurich’s Security and Privacy Protection policy is now available to companies and their captives to cover the costs associated with a data breach, including: business income loss; dependent business income loss; notifying regulatory authorities and affected individuals; regulatory fines; media liability; and defense and settlement.

Captive customers who purchase the cyber product have the access to The Zurich Service Corporation’s risk engineering team, which is focuses on cyber-related issues. Resources are also provided to qualified customers for breach coaching and employee training to help build awareness of local regulations.

Captive structures can be flexible based on a customer’s needs and can include risk-sharing structures with quota share layers or primary and/or excess programs.

Zurich Insurance Group is a leading multi-line insurer that serves its customers in global and local markets, providing a range of general insurance and life insurance products and services. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, including multinational corporations, in more than 170 countries.