Berkshire Hathaway launches cyber liability insurance in New Zealand
Berkshire Hathaway Specialty Insurance Company (BHSI), has introduced its cyber liability insurance office in New Zealand and appointed Ian Marshall as senior underwriter, executive and professional lines.
BHSI’s cyber liability policy covers business interruption and third party liabilities a policyholder faces from a data breach, rectification expenses, and emergency response costs incurred by policyholders using BHSI’s pre-selected breach response team.
“Our Cyber Liability coverage gives insureds the confidence of BHSI’s financial strength and a proven team of specialists to respond when a breach occurs or is suspected,” said Cameron McLisky, BHSI Australasia’s manager of executive and professional lines.
“Policyholders have a market-leading team at their service to help them strategically manage the all-important response to a cyber breach incident.”
Marshall previously worked for Lumley General Insurance, where he was recently its senior underwriter, liability centre of expertise.
Prior to that, he was the senior underwriter, professional liability at AIG Insurance New Zealand Limited and he started his career as an underwriter in financial lines at AIG.
Marshall said: “We’re pleased to bring to market a comprehensive breach response solution that provides policyholders with swift access to experts to help them respond skillfully to a cyber incident.
“Policyholders have access to legal experts to help them manage their obligations following a breach, forensic IT services to identify and contain a breach, and public relations and credit monitoring firms to manage the reputational damage that can accompany an incident.”
BHSI is also joining Symantec to offer incident response services to policyholders. Symantec has a complex database of internet threat data intelligence and monitors threat activity in over 157 countries, in order for it to help companies to quickly find, contain and remediate a breach incident.
