QBE North America Adds Breach Plan Services to Cyber Policies
QBE North America, an integrated specialist insurer, announced the inclusion of data breach planning services in all cyber policies, giving policyholders a simplified approach to the development of an actionable cyber breach response plan. The company is initially offering the services through Breach Plan Connect offering customers the ability to access the plan whenever and wherever needed in response to a cyber event.
The Solution for Cyber Risk is a comprehensive product suite that addresses potentially devastating exposures, and protects businesses in the event that sensitive or protected data is compromised. The company also offers access to its eRiskHub portal, which offers cyber risk management guidance prior to an event.
Breach Plan Connect simplifies the data breach planning process by offering a checklist that includes best practices to follow in the event of a data breach and specific breach-focused responses, as well as links to QBE’s eRiskHub portal, powered by NetDiligence. Risk managers can customize the response plan to suit the needs of their organizations and, since it is a cloud-based Software as a Service (SaaS), the plan can be accessed anywhere, anytime, from any device. The product also gives businesses the option to take a pre-breach cyber risk self-assessment to determine their current level of protection and what they need to do to strengthen it.
Verisk Launches New Energy Insurance Platform
Verisk, a data analytics provider, launched the Energy & Power Intelligence Xchange (EPIX), a benchmarking and risk-scoring platform that can significantly enhance how insurers research, assess, and underwrite complex energy risks.
EPIX offers robust modules to support decision making for energy insurers globally. EPIX Asset, the platform’s core module, provides critical and regularly updated data on thousands of energy companies and their assets in the upstream, downstream, and power-generation markets across the globe, including oil fields, refineries, and power plants. EPIX Portfolio, the platform’s second module, is entering beta testing next month and is designed to help insurers analyze risks such as natural catastrophes and supply chain disruptions and evaluate how they affect overall portfolio composition and performance.
Verisk built EPIX leveraging the data assets of several of its businesses, including Wood Mackenzie, ISO, AIR Worldwide, AER, Arium, and Geomni, and is currently building two additional modules. EPIX Experience, the platform’s third module, will provide a proprietary database of industry loss events. EPIX Operations, the final module, will offer in-depth insights into how energy companies are managing their assets and operations, using information garnered in part from sensors and the Internet of Things.
To learn more about EPIX, visit www.verisk.com/epix.
Acadia to Pay Nearly $1M in Policyholder Dividends to Members of the ASM
Acadia Insurance, a Berkley Company, plans to pay more than $950,000 in dividends to policyholder members of the Associated Subcontractors of Massachusetts (ASM) through the Central New England Subcontractors Safety Group Program, an all-lines insurance program that provides participating members the opportunity to earn dividends based on group and individual performance.
Acadia’s dividend programs reward members by returning a share of its profits to qualifying plan members when the groups foster safe work places and meet or exceed established loss ratio targets.
According to Acadia Insurance Regional Vice President, Massachusetts Branch Manager Sharon Pontes, the insurer has paid more than $6 million since the inception of the program in 2003
The carrier also participates in regular safety group meetings that highlight industry trends and loss prevention tips targeted to customer business operations. Individual safety training is available for customers through Acadia’s loss control experts and includes fall prevention, forklift safety, driver safety and OSHA 10 training.
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