Beazley has launched what it characterized in a statement as a “significantly enhanced miscellaneous professional liability policy form for small and mid-sized firms.” The company said that the new policy offers “broad coverage in its base form with specialized coverage enhancements available for a range of industries.”
Beazley said that its enhanced professional liability policy form features seven base coverages:
- Professional liability – coverage for unintentional breach of contract or broader accusations of negligence in work done for clients.
- Information security and privacy liability – coverage for theft, loss, or unauthorized disclosure of personally identifiable or third party corporate information. Coverage for unauthorized access, theft of or destruction of data, denial of service attacks, and virus transmission involving the insured's computer systems resulting from computer security breaches.
- Privacy notification costs – coverage for the costs associated with customer notifications and credit monitoring after a data breach.
- Regulatory defense and penalties – coverage for damages and claims expenses related to improper customer notifications after a data breach.
- PCI, fines, expenses, and costs – coverage for fines, expenses, and costs related to non-compliance with Payment Card Industry (“PCI”) data security standards.
- Personal injury liability – coverage for damaging the reputation of an individual or business, infringing on their right to privacy, or accusations of making money illegitimately from someone else's name or likeness.
- Website media content liability – coverage for copyright infringement, plagiarism, and the infringement of someone else's domain name or other intellectual property rights.
Specialized coverage enhancements, the company said, are available for the following target classes: marketing, public relations, market research, lobbyists, management consultants, safety consultants, tax preparers, mediators, arbitrators, recruiters, staffing, human resources consultant, interpreters, translators, event planners, and disability representatives.
Jamie Orye, private enterprise underwriter at Beazley, said, “We're excited to launch an improved form with coverages specifically designed to address the unique risks companies face across a variety of industries. Our enhanced professional liability coverage accelerates the underwriting process, covers the main exposures companies face, and helps our broker partners efficiently meet their client's needs.”
Learn more: www.beazley.com.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].