XL Group’s Cyber & Technology insurance business unveiled its network of prequalified breach response specialists to provide its cyber liability insurance clients with the market’s most comprehensive selection of industry experts to help navigate complex data breach issues when they arise.
“There are more than 73,000 cyber-attacks on mid-to-large companies annually. When such an attack occurs and leads to a data breach, an accurate and timely response is critical,” said John Coletti, chief underwriting officer of XL Group’s Cyber & Technology unit. “We have not only teamed up with market-leading breach response providers, but have also built the most comprehensive pre-qualified cyber response network available in our industry.”
For XL Group cyber insurance clients, XL Group has identified and negotiated preferred rates to provide a broad variety of breach response services. A 24/7 hotline staffed by XL Group’s expert cyber claims team provides access to best-in-class firms that specialize in:
“This year, we also announced our new user-friendly cyber policy form with enhanced insurance coverage,” said Coletti. “Together with this prequalified network, we’re helping our clients address the costs associated with a breach and also helping them develop a wise response plan with topmost industry expertise when a security incident occurs. An unprepared response to a cyber attack can not only cost more but it also threatens a company’s reputation and customer trust.”
XL Group’s North America Cyber & Technology business is headquartered in New York City with underwriting offices in Chicago, and Washington, DC. XL Group offers coverage for data protection and privacy risks, both for third-party claims and first-party mitigation costs following a technology or cyber event. Coverage is tailored for businesses across various industries and technology companies.