Beazley Group, a risk insurance and re-insurance business, has introduced MPL Secure, a miscellaneous professional liability and network security liability policy form designed to provide coverage that fits the needs and exposures of the current marketplace.
The company said that MPL Secure has been designed to provide optimal protection for a wide range of businesses. Other benefits include: personal injury coverage; punitive damage grant with most favorable venue wording; coverage for unintended breach of contract; softening of settlement clause; and defense of claims for fraud, dishonesty, etc, with innocent insured coverage, the company added.
David Molitano, MPL product manager, said: We have streamlined and improved our miscellaneous professional liability form to adjust to the expanding needs of our clients and their exposures. Among the improvements, we have provided embedded network security, full worldwide coverage and we have reduced the number of exclusions. We will also be offering general liability coverage and/or an additional claims expenses limit by endorsement for an additional premium.