Berkshire Hathaway Specialty Insurance Co. on Tuesday said it has launched a U.S. professional liability policy for architects and engineers that includes cyber coverage.
Professional First Architects & Engineers Professional Liability Insurance's cyber coverage addresses media, technology and network security and privacy liability exposures, including the cost of responding to a data breach or network extortion threat, BHSI said in a statement.
The coverage also includes access to a network of experts to assist in responding to a data breach or extortion threat, and risk management services including contract reviews, newsletters and best practices webinars, according to the statement.
Limits up to $25 million are available, according to the statement.
“Our new Professional First A&E Professional Liability policy responds to a variety of exposures facing the design community, including cyber and LEED certification exposures, and it rewards our customers for strong risk management practices,” Joe Schrancz, Philadelphia-based vice president and head of A&E professional liability for BHSI, said in the statement.
(Reuters) — A rash of hacking attacks on U.S. companies over the past two years has prompted insurers to massively increase cyber premiums for some companies, leaving firms that are perceived to be a high risk scrambling for cover.