AXIS® PRO PrivaSure
Applications & Supplement
Claim Examples
Fact Sheet
Data security is a paramount concern to risk managers and businesses around the world. Whether a business maintains confidential employee data, customer information such as credit card data, or confidential client information, maintaining the security and privacy of this information is critical. A breach of data security could be ruinous, in terms of costs to comply with state notification requirements, potential liability claims, and damage to a company's reputation.
AXIS® PRO has created AXIS PRO PrivaSure™, a policy specifically designed to address these evolving exposures. The PrivaSure policy is designed to protect an enterprise from claims and other exposures resulting from a breach of data security. Coverage is also available for data crisis management expense, and computer system extortion threats. Sample classes insured include Contractors, Healthcare Facilities, Manufacturers, Wholesalers, Consultants, State and Municipal Governments, etc.
The PrivaSure policy also provides value-added risk management, crisis management and public relations services. In the event of a data breach, legal assistance is just a phone call away. Policyholders also will have access to a special password-protected website containing valuable information such as data security checklists, sample notification letters, state data breach notification information, best-practices security breach prevention information, and more.
Coverage is written by a member company of the AXIS group of insurance companies, rated “A+” (Strong) by Standard & Poor’s and “A” (Excellent) XV by A.M. Best.
Coverage Highlights
- Covers any form of invasion, infringement or interference with the rights of privacy or publicity
- Covers unauthorized access to, use of, or tampering with data
- Covers liability arising from denial of service attacks or the inability to access websites or computer systems
- Includes coverage for crisis management and public relations expenses
- Covers regulatory action defense expenses
- Covers computer system extortion expenses and losses
- Provides innocent insured coverage
- Covers intentional wrongful conduct of “rogue” employees
- Offers coverage for punitive damages (where allowed by law)
- Contains a soft hammer clause
- Includes a favorable consent to settle clause giving insured more control over settlement
- Includes coverage for negligent discrimination and harassment related to privacy claims
- Contains automatic subsidiary coverage including newly created or acquired entities
- Written with universal territory coverage
