WARREN, N.J., Oct. 26, 2011 /PRNewswire/ -- In response to the proliferation of corporate smartphones and PDAs, the Chubb Group of Insurance Companies is helping its customers manage the threat to intellectual property and other confidential information stored on such devices.
Chubb will now reimburse its cyber liability insurance customers, where permitted, as much as one-half the cost of AirPatrol Corporation products; the reimbursement will be up to the lesser of $10,000 or 10% of the policy's annual premium. AirPatrol products can prevent mobile devices from copying, recording or transmitting intellectual property and sensitive data; provide customized security settings to make them compliant with corporate security protocols based on location; or, in the event of loss or theft, limit their functionality and/or wipe their data.
"Mobile devices are a growing security threat to a firm's intellectual property and other valuable data," said Tracey Vispoli, senior vice president and worldwide cyber liability manager for Chubb. "Nearly two-thirds of small to medium size businesses participating in a recent survey have lost devices such as laptops, smartphones or iPads in a 12-month period. Even more alarming is that all the 2,152 companies surveyed have at least some devices that have no password protection and cannot be remotely wiped of their data to protect their confidential business information."
AirPatrol products complement Chubb's suite of cyber loss prevention solutions, which includes eRisk Hub, an Internet site that provides cyber risk management tools and information. More information on AirPatrol is available at www.airpatrolcorp.com/.
The member insurers of the Chubb Group of Insurance Companies form a multi-billion dollar organization providing property and casualty insurance for personal and commercial customers worldwide through 8,500 independent agents and brokers. Chubb's global network includes branches throughout North America, Europe, Latin America, Asia and Australia.
Chubb Group of Insurance Companies
15 Mountain View Road
P.O. Box 1615
Warren, New Jersey 07059
Contact: Jodi Dorman
SOURCE Chubb Group of Insurance Companies