Berkshire Hathaway Specialty launches cyber policies

Berkshire Hathaway Specialty Insurance (BHSI) this week announced two new policies providing cyber liability and breach response coverage with risk management resources — the Professional First Network Security & Privacy Policy and the Professional First Professional Liability and Network Security & Privacy Policy. The latter also includes customizable errors and omissions (E&O) liability coverage.

According to the company, both policies will include coverage for third party exposures resulting from data security and privacy breaches, including regulatory investigations, fines and penalties; breach expense and extortion threat coverage, addressing the wide range of direct expenses an Insured incurs to effectively respond to a breach or extortion threat; media liability coverage, which responds to traditional media exposures (e.g. through a company’s website) arising from electronic content; business interruption coverage to pay lost income and related expenses incurred as a result of the Insured’s business’ partial or full interruption due to a network security failure; and online access to netDiligence’s eRiskHub, which offers tools and resources to help policyholders understand cyber exposures, establish a breach response plan, and prepare to mitigate the impact of a breach on their organization.

“Our experienced professional liability team is providing solutions to simplify for customers the complex work of managing professional liability and cyber exposures,” said Danielle Librizzi, senior vice president, BHSI’s head of professional liability. “We are pleased to bring to market comprehensive, flexible coverage, backed by BHSI’s commitment to service and financial strength.”

Recently added to BHSI’s executive liability team, Librizzi will oversee BHSI’s professional liability and cyber insurance underwriting in the U.S. She comes to BHSI from CNA Financial Corp, where she spent the past decade in a series of positions of increasing responsibility overseeing management liability, financial institutions and miscellaneous professional liability and cyber claims handling. Prior to that, she was at AIG and Gulf Insurance Group. Before embarking on a career in insurance, she was an attorney in private practice. She is based in BHSI’s New York office.