AXIS PRO® PrivaSure™ Breach Response
Data security and privacy are paramount concerns to risk managers and businesses around the world. Maintaining security of private information is critical, whether a business keeps healthcare records, confidential employee data, financial information, or confidential client information. A breach of data security can be detrimental in terms of costs to comply with state notification requirements, to remediate damage to the company's reputation, and to defend regulatory actions and liability claims. Available on admitted and non-admitted policy forms, AXIS PRO® PrivaSure™ Breach Response is designed to protect an enterprise from the costs of lawsuits and other expenses resulting from a breach of data security. PrivaSureTM Breach Response can help protect any business that stores, maintains or controls personal information, including Healthcare Facilities, Financial Institutions, Law Firms, Accounting Firms, Retailers, Wholesalers, Manufacturers, Contractors and Consultants.
PrivaSure™ Breach Response connects insureds directly with resources to respond to breach events and to manage the burden of state and federal regulatory requirements. Coverage includes data breach forensics, breach notification, credit monitoring, and identity restoration services from Kroll Advisory Solutions, the world’s leading risk consulting company.
Coverage is backed by the exceptional financial strength and solid claims-paying ability of the AXIS insurance companies, rated “A+” (Strong) by Standard & Poor’s and “A” (Excellent) XV by A.M. Best.
AXIS PRO®PrivaSure™ Breach Response coverage includes:
- Breach Response Services including forensic, notification, credit monitoring and identity restoration services, and the cost of legal and public relations services
- Regulatory action defense expenses, fines and penalties
- Computer system extortion expenses and losses
- Consumer redress fund deposits
- Innocent insured coverage
- Punitive damages coverage (where allowed by law)
- A favorable consent to settle clause giving insured more control over settlement
Defense and Indemnity for Liabilities Arising from:
- Accidental release, unauthorized disclosure, theft or loss of protected personal information by the insured or service contractor
- Transmitting or receiving malicious code via the insured's computer system
- Denial of service attacks or the inability to access websites or computer systems
- Actions of independent contractors and those processing data on the insured's behalf