The new solution from Hanover offers security breach notification, data and systems restoration and protects against cyber extortion, funds transfer fraud
The Hanover launches new solution for tech companies. (Credit: Pixabay/Pete Linforth.)
The Hanover Insurance has launched Hanover Technology Professional and Cyber Advantage, an integrated cyber, risk and management solution for technology businesses.
Claimed to have been designed to address the complex and ever-changing risks faced by technology businesses, Hanover Technology Professional and Cyber Advantage is a flexible coverage solution that can be customised for needs of businesses ranging from start-ups to large, multinational corporations.
The solution offers errors and omissions liability, cyber and privacy security liability, personal injury liability and media and content liability.
It also supports a full array of first-party cyber coverage options such as security breach notification and remediation, data and systems restoration, cyber extortion, business income and extra expense, funds transfer fraud, public relations expenses.
The Hanover solution is available for businesses ranging from start-ups to large corporations
The Hanover technology and life sciences vice president Toby Levy said: “We designed Hanover Technology Professional and Cyber Advantage with our agents and customers in mind. We wanted to make it easy to access all the professional and cyber coverages and services needed in today’s marketplace.
“But it’s not a one-size-fits-all approach. Each program can be highly customized to address the specific needs of clients throughout various stages of their life cycles.”
Hanover also offers its clients a suite of risk management solutions including eRiskHub, a solution that helps clients understand exposures, establish a response plan and minimise the effects of a data breach.
Clients will also be given access to discounts on services from third-party partners along with a technology and cyber claims team.
In May this year, the company invested in its professional lines solutions by enhancing its Hanover Accountants Professional Advantage product and its Hanover Allied Healthcare Advantage offering.
The Accountants Professional Advantage is a flexible, standalone coverage for a broad range of professionals ranging between small tax preparers and top accounting firms.
The company had also broadened the definition of ‘professional services’ to include any advice given or services provided, offering better protection for accountant clients.