(PRWEB) January 17, 2013
IronPro, the professional liability division of Ironshore Inc., has introduced the Ironshore Highly Protected Information (HPI) endorsement for use with its Enterprise PrivaProtector 9.0 and TechDefender products.
“Many small and middle market companies can’t afford to hire information security experts to monitor and prevent malware and network attacks” said Kurtis Suhs, Vice President and National Product Leader for Technology E&O and Privacy Insurance at IronPro.
According to the 2012 Verizon Communications Data Breach Investigation Report, over two-thirds of the 855 incidents studied occurred at companies with 11 to 100 employees. The study also notes that many of these companies have poor password management and usually lack any information technology staff.
Based upon these statistics, Ironshore believes that investment in loss prevention is better than trying to recover from a data breach. The Ironshore Highly Protected Information (HPI) Endorsement provides free limited access to a third party on-call Chief Security Officer (CSO), in addition to a Privacy Breach Coach. Ironshore policyholders who take advantage of these HPI endorsement loss mitigation services may also be entitled to certain premium credits on account of their diligent loss prevention efforts.
Other Ironshore Highly Protected Information (HPI) endorsement coverage features include:
Reimbursement for notification expenses for up to 10 million affected individuals; and
Privacy Breach Expenses in addition to the policy aggregate limit.
Coverage is available for middle market customers in the retail, hospitality, financial institutions, and professional services industries with minimum annual revenue of $10 million.
Ironshore provides broker-sourced specialty property coverage, casualty insurance and political risk insurance coverage for varying risks on a global basis through its multiple international platforms. The Ironshore group of companies is rated A- (Excellent) by A.M. Best with a Financial Size Category of XIII. Ironshore’s Pembroke Syndicate 4000 operates within Lloyd’s where the market rating is A (Excellent) by A.M. Best and A+ (Strong) from both Standard & Poor’s and Fitch. For more information, please visit: http://www.ironshore.com.