Property loss insurer Höher is launching new products in partnership with Dublin-based specialist insurer Beazley Insurance dac. In the cyber field, risks from small and medium-sized companies, industry and the self-employed can be insured. According to a broadcast, the new insurance coverage includes the areas of violation response services, personal injury, liability claims and cybercrime.
According to the conditions, costs for the provision of services, compensation for personal injury, examination of the issue of liability, defense costs, exemption from justified claims, legal representation in official proceedings and payment of fines for administrative acts. Violations are reimbursed. In addition, the front page extension website recovery is also included. The sums insured with this insurance range between 250,000 and five million euros.
VSH with an IT look for new jobs
In property damage liability insurance (VSH), Höher opens another business area for management consulting, accounting and information technology. Special mention deserves the coverage of economic losses in IT services. The insurer grants insurance coverage for financial losses caused by a failure to perform an insured professional activity based on the legal provisions of private law liability.
The insurance coverage also extends to economic losses caused by one of the executive assistants of the policyholder, as well as negligence in contract negotiations, non-compliance or poor performance of a performance obligation, non-compliance of an obligation incidental or certain damage caused by delay.
In the field of directors and officers/managers liability (D&O) insurance there is protection under the cooperative in the event that policyholders are prosecuted for compensation for financial loss due to a breach of duty in the exercise of a insured activity.
When it comes to cyber risks, on September 1, Hoeher will host a training session for financial service providers and insurance intermediaries on online crime. A course on “Certified Cyber Insurance Advisor” will also be presented at the event.
Austrian law applies
According to the mail, Austrian law applies to new products. Beazley Solutions International Limited insurance brokerage firm is licensed by the Central Bank of Ireland. It is wholly owned by specialist insurer Beazley Group. Under its umbrella are insurance companies specialized in the areas of transport, political risks, accidents and contingencies, property insurance, reinsurance, cyber and executive risks and civil liability, including financial lines. (eml)