NEW YORK, Nov. 9 /PRNewswire-FirstCall/ -- XL Insurance, the global
insurance operations of XL Capital Ltd (NYSE: XL) (XL), today announced the
availability of XL Eclipse(SM) -- a new insurance policy designed to address
privacy and security risks of non-tech companies. XL Insurance also announced
an enhanced technology errors & omission policy, XL EclipsePro(SM),
specifically for technology products and service providers.
"Technology companies are not the only businesses susceptible to website
disruptions, network breaches, lost data or other technological issues,"
according to Scott Schleicher, XL Insurance's Technology E&O manager.
"Companies of all sizes and representing all industries use technology to
perform significant aspects of their business. Therefore, they are also at
risk of technology failure."
XL Eclipse(SM) offers a wide range of cyberliabilty coverage under one
policy form, including:
-- Network Security Liability
-- Media Content Services Liability
-- Privacy Liability
-- Extortion Threat
-- Crisis Management
-- Business Interruption
-- Credit Monitoring
-- Privacy Notification Costs
-- Regulatory fines
The coverage can be tailored to address the specific technology risks of a
variety of industries, especially service providers such as lawyers, real
estate or insurance agents, and medical offices.
XL EclipsePro(SM) offers these cyberliabilty coverages but also
incorporates technology E&O to address the professional liability needs of
technology products and service providers.
"XL Insurance first introduced its technology E&O product in December
2008," explained Mr. Schleicher. "We are constantly looking at ways to
improve our products and services and keep pace with our clients' changing
risk management needs. These policies offer a complete package that can help
both our tech and non-tech clients thoroughly and effectively address their
tech risk."
XL Eclipse(SM) and XL EclipsePro(SM) are underwritten by XL Insurance's
Indian Harbor Insurance Company and are available with liability limits up to
$10 million. These coverages are administered through XL Insurance's Select
Professional unit which provides various miscellaneous professional liability
coverages, including E&O coverages for lawyers, real estate and insurance
agents, and other service providers.
About XL Insurance
"XL Insurance" is the global brand used by member insurers of the XL
Capital Ltd (NYSE: XL) group of companies. More information about XL Insurance
is available at http://www.xlinsurance.com. Through its operating
subsidiaries, XL Capital Ltd is a leading provider of global insurance and
reinsurance coverage and services to industrial, commercial and professional
service firms, insurance companies, and other enterprises on a worldwide
basis. More information about XL Capital Ltd is available at
www.xlcapital.com.
SOURCE XL Insurance
