"The smallest misstep by a firm can quickly result in a costly customer errors and omissions liability lawsuit," said Veronica Somarriba, Executive Vice President and Commercial Insurance Technology and Manufacturing Segment Manager, Chubb North America. "For instance, an employee at a software developer may infringe another company's copyright-protected source code, or a flaw in electronic medical record software might enable a hacker to compromise a patient's privacy. Integrity+ is designed to provide the breadth of protection needed to help a company from such evolving risks."
First Party Cyber Coverages
In addition to its four base coverages, Integrity+ offers First Party Additional Coverages for expenses incurred in connection with a privacy data breach, including Notification, Forensic, Remediation Expenses, and Investigation and Defense of Regulatory Actions. These First Party coverages, in addition to Cyber-Threat, are included in a Basket Limit of Insurance—separate from the limits of insurance purchased for one or more of the liability coverages—and gives companies the flexibility to apportion insurance dollars where they are needed most at the time of loss.
Also available are Other First Party coverages with separate, specific limits of insurance for Cyber-Reward Expenses; Fines or Penalties; Confidential Information Breach Expenses; and Business Income, Extra Expense and Electronic Data Recovery Costs.
Industry Specific Coverages
Integrity+ has three industry-specific coverage extensions that expand the base liability coverages and are designed to meet the unique exposures faced by these industries:
- Advanced Manufacturing: For today's manufacturers data is as important as the manufactured product itself. While this can make companies more competitive, it also creates digital exposures. Integrity+ offers advanced manufacturing companies protection as they continue to integrate digital technologies into their manufacturing processes and incorporate such technologies into their finished products.
- Technology: To succeed, technology companies often take risks which may expose them to greater financial peril. Integrity+ offers insurance protection to preserve technology companies' most important relationships—with customers, vendors, employees, sub-contractors, and shareholders.
- Life Sciences: Confidentiality and integrity of patient data are critical in developing products and services that save or sustain lives. Medical device firms are incorporating Bluetooth and other interconnected technologies that enable real-time access to patient information. Integrity+ offers life sciences companies insurance protection that helps address increasingly data-centric discovery and healthcare-delivery processes.
Liability protection from Integrity+ by CHUBB® is available on a claims-made or claims-made and reported basis. Integrity+ is also available in Canada. Integrity+ by CHUBB® is subject to the terms and condition of the policy as issued.
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: chubb.com.
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