Arch Insurance Group Announces New Network Security & Privacy Product

NEW YORK--(BUSINESS WIRE)--Arch Insurance Group (Arch), a division of Arch Capital Group Ltd., recently announced its new Network Security & Privacy coverage—called Arch NetSafe^sm.

“These types of exposures are more top-of-mind for risk managers than ever. We’ve developed a solution to network security and privacy exposures that provides a comprehensive package of both coverage and innovative information support to help risk managers combat these evolving risk issues”

Arch NetSafe^sm is designed to protect a company’s liability to third parties and their own business income and data asset loss from network security and privacy exposures (e.g. computer viruses, denial of service attacks, cyber extortion, unauthorized access, stolen laptops, etc.).

Arch has been writing this type of coverage for six years and was one of the first markets to offer comprehensive enterprise network security coverage. The new product, Arch NetSafe^sm, will be written on an open brokerage basis.

“These types of exposures are more top-of-mind for risk managers than ever. We’ve developed a solution to network security and privacy exposures that provides a comprehensive package of both coverage and innovative information support to help risk managers combat these evolving risk issues,” said Kevin Kiernan, Vice President- Professional Liability.

The innovative information support tools come in the form of a value-add to this policy. Policyholders will benefit from the new web-based service-- eRisk Hub^®, to assist them in their effort to effectively manage their enterprise network and privacy risk. This private web-based portal arms policyholders with information and technical resources that help in the prevention of network, cyber and privacy losses, and support them in the timely reporting and recovery of losses if an incident occurs.

Once an incident occurs, clients may need immediate help and expertise to respond and recover. Because incidents can be very complex, these companies may need assistance across a broad range of disciplines, including legal/regulatory compliance, information technology (IT) security, privacy, disaster recover/business continuity, computer forensics, forensic accounting, public relations, credit monitoring and law enforcement.

Key features of the eRisk Hub service include:

• Incident HELP Hotline: staffed by security experts, immediate triage of assistance in event of a breach
• Incident Roadmap: a step-by-step guide on how to manage an incident
• News Center: up-to-date information on cyber risk stories, security and compliance blogs, security news, risk management events, helpful links
• Learning Center: best practices articles, white papers by leading technical and legal experts on compliance, network security, privacy and breach recovery.
• eRisk Resources Directory: helps to quickly find external resources with deep expertise in pre and post breach disciplines

The portal is powered and maintained by NetDiligence^®, a leading cyber risk assessment services company.

Arch Insurance Group Inc. is a division of Arch Capital Group Ltd., a Bermuda-based company that provides insurance and reinsurance on a worldwide basis through its wholly owned subsidiaries. For more information, visit www.archinsurance.com.

Insurance coverage is underwritten by one or more member companies of Arch Insurance Group in North America, which consists of Arch Insurance Company (a MO corporation, NAIC # 11150), Arch Specialty Insurance Company (a NE corporation, NAIC #21199),Arch Excess & Surplus Insurance Company (a NE corporation, NAIC # 10946) and Arch Indemnity Insurance Company (a NE Corporation, NAIC #30830). Executive offices are located at One Liberty Plaza in New York City 10006. Not all insurance coverages or products are available in all jurisdictions. Coverage is subject to actual policy language. This information is intended for use by licensed insurance producers.