Argo Pro, a member of Argo Group International Holdings Ltd, has introduced a new cyberliability insurance product—information & Professional Risk Playbook (iPRP)—designed to address the exposures businesses face from an increasing reliance on information technology. In addition, Argo Pro has partnered with NetDiligence, a cyber risk assessment and data breach services company that provides post-incident online services for clients through its eRisk Hub portal.
This is the second time this week an insurer has taken steps to beef up cyberliability coverage.
Argo says iPRP targeted classes include accountants; auto dealers; healthcare providers; insurance agents and brokers, TPAs and regional insurers; manufacturing; wholesale and retail businesses; professional and technology services firms; public entities; restaurants and trade associations.
Key coverage features of iPRP include privacy coverage for unauthorized access or use of private data in any form, including accidental dissemination and vicarious liability for third-party vendors, according to Argo. Also included is first-party coverage for breach notification and mitigation obligations assumed under business associate agreements or similar contracts.
The coverage also contains breach mitigation solutions; media coverage extending to content posted on behalf of the insured company on third-party sites; and defense expense coverage for contractual liability claims, Argo added.
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