Specialist insurer Hiscox has added crime and data breach and privacy coverage options to its Hiscox Professional Liability Portfolio that was launched earlier in February this year.
In addition to general liability coverage to their Hiscox Professional Liability policies, professional services firms can now add the two additional coverage options enabling brokers to have access to greater options and products to offer a unique blend of coverage under one individual policy.
Hiscox Professional Liability Portfolio was earlier launched for occupations needing Allied Healthcare (AHC), Architects & Engineers (A&E) and Miscellaneous Professional Liability (MPL) insurance coverage.
The portfolio offers targeted, industry specific policy forms, clear, concise policy language, cross selling opportunities, and standard general terms and conditions for all lines of business.
Hiscox USA principal underwriting counsel Liz Kim said, "Crime, Data Breach and Privacy and General Liability coverages are in demand and the ability to add these to our tailor made professional liability portfolio in one policy is a major benefit for brokers and our insureds."
"Hiscox Professional Liability Portfolio is specifically designed to adapt and provide coverage based on the specific needs of each client across the product spectrum."
A company can lose 5% of its overall revenue to fraud annually with private firms being the most frequent victims, according to the company.