Endurance Specialty Holdings said it has enhanced its Endurance Premier Professional product with Endurance CyberWrap, an additional Side A directors and officers (D&O) liability coverage.
The Bermuda-based specialty insurer said the coverage would apply to non-indemnified D&O losses triggered by a privacy breach or other network security failure. The endorsement provides primary D&O coverage where there is no program in place and provides specific excess protection over existing D&O.
The endorsement is available to both public and private companies with revenues up to $500 million.
Endurance CyberWrap is the latest network security and privacy offering by Endurance Pro, which delivers specialty E&O and related products to a wide array of professional classes in the US market.
CyberWrap follows Endurance Pro’s recent introduction of Endurance Breach Assist, a cyber liability product which provides insureds with data breach coverage and immediate access to best-in-class legal and technology expertise to respond to data breach events.
“Recent events have demonstrated that directors and officers are not immune to privacy related litigation,” said Brad Gow, senior vice president of Endurance Pro, in a statement. “We have seen a number of lawsuits filed against directors and officers for, among other things, breaches of fiduciary duty and the waste of corporate assets related to high profile network security failures. Endurance CyberWrap provides Side A protection in the event of a security breach and can be used to complement in force D&O coverages.”
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