National Union Fire Insurance Company of Pittsburgh, Pa., a member company of American International Group Inc. (AIG), announced the enhancement of its AIG ProTech Modular Edition for professional liability and network security risks.
The new version of the program features a streamlined policy form and application with expanded coverage while reportedly simplifying the underwriting process for brokers and clients.
Coverage for Errors & Omissions (E&O), network security risks and media liability, which addresses claims arising from the gathering and dissemination of information, can now be combined into one broad, cost-efficient policy, with a single limit up to $25 million.
The enhanced AIG ProTech Modular Edition also now includes new coverage for first and third party Information Asset, Business Interruption, Cyber-Extortion, Crisis Management, Internet Professional and Security Liability losses that are incurred during an insured’s delivery of technology products and/or professional services to clients nationwide.*
“Professional liability exposures within the technology arena continue to evolve, and the associated risk of financial loss should be addressed by an insurance program that is specifically designed to respond to these exposures,” said Michael Smith, president of the Professional Liability Division of National Union Fire Insurance Company of Pittsburgh. “The expanded capabilities of the AIG ProTech Modular Edition represent our efforts to provide the technology services sector with flexible coverage offerings that can be tailored according to an individual company’s needs. Furthermore, the streamlined application process and policy language helps our producers clearly articulate the value proposition that this risk management program can provide to commercial insureds.”
Additional improvements to the AIG ProTech Modular Edition program include the combination of offline and online media into a single module and the availability of network security coverage on the AIG ProTech policy form.
These enhancements allow technology services businesses to select the components of insurance protection that are commensurate with the risks associated with their specific business activities. Specialized coverage is combined with the support of expert claims professionals and defense attorneys to ensure losses are proactively and effectively mitigated.
For more information on AIG ProTech Modular Edition, contact your local National Union representative or e-mail firstname.lastname@example.org.
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