Allied World Assurance Company Holdings, a provider of property, casualty and specialty insurance and reinsurance solutions, has launched the next generation of its Privacy Liability product: Privacy//403v2.

According to Allied World, the Privacy//403v2 is designed specifically for a broad spectrum of non-technology companies including, financial institutions, healthcare organizations, utilities, insurance companies and retailers.

In addition to the privacy, network security, media liability, business interruption costs protection, and domestic notification costs, Privacy//403v2 now offers coverage for international notification costs and data forensic expenses.

Allied World president professional lines division John McElroy said that this product is to keep pace with the dynamic needs of the Privacy and Security Liability insurance market.

The launch of Privacy//403v2 provides clients with a cutting edge solution to proactively manage and respond to Privacy risks, McElroy said.