New offering packages pre-claim assistance, enhanced coverage post-incidence remediation to support businesses before, during and after a cyberattack.
The Hartford today announced the launch of CyberChoice First ResponseSM,
an admitted cyber liability product that helps businesses protect
against cyberattacks in an effort to limit the damage to their bottom
lines and reputations.
“With the average cost of a data breach exceeding $3 million1
and businesses continuing to adopt new technologies, business owners are
increasingly concerned about where their protection will come from,”
said Tim Marlin, head of cyber underwriting at The Hartford. “With
CyberChoice First Response, we have a comprehensive insurance solution
to help insurance producers and their clients ensure they have
appropriate coverage in the ever-changing and often confusing cyber
threat landscape.”
CyberChoice First Response offers several options for customization, and
can include coverage and services to help businesses overcome the
significant challenges resulting from a cyberattack, including data
privacy and network security, media, ransomware, and business
interruption. The policy also provides the ability to choose to prepare
for and respond to cyber threats in a way that best fits the business’
needs, including:
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Coverage for pre-claim expenses,
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Coverage related to a regulatory inquiry in addition to regulatory
fines and defense, expenses incurred as a result of a regulatory
proceeding,
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Recognition of internal expenses incurred in response to a breach,
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24/7 cyber incident hotline staffed in the U.S. to assist in the event
of a cyberattack, and
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Available system failure and administrative error protection.
To help business owners proactively take steps to prevent a cyberattack
from occurring, CyberChoice First Response offers access to a panel of
pre-approved service providers to guide them on securing their networks. The
Hartford Cyber Center, a digital cyber risk management portal,
provides customers with tools, training materials, and best practices
suggestions to further help mitigate the risk of a cyber incident.
Should a business experience a cyber incident, The Hartford’s commitment
does not end when the claim is resolved. To help businesses prevail,
CyberChoice First Response includes post-incident remediation to help a
business make improvements to its security position and ensure it is
better prepared against cyber threats than before the incident occurred.
For more information about The Hartford’s cyber liability solutions for
businesses, visit thehartford.com/cyber.
About The Hartford
The Hartford is a leader in property and casualty insurance, group
benefits and mutual funds. With more than 200 years of expertise, The
Hartford is widely recognized for its service excellence, sustainability
practices, trust and integrity. More information on the company and its
financial performance is available at https://www.thehartford.com.
Follow us on Twitter at www.twitter.com/TheHartford_PR.
The Hartford Financial Services Group, Inc., (NYSE: HIG) operates
through its subsidiaries under the brand name, The Hartford, and is
headquartered in Hartford, Conn. For additional details, please read The
Hartford’s legal notice.
HIG-C
1
Ponemon Institute 2017 Cost of Data Breach
Study.
Some of the statements in this release may be considered forward-looking
statements as defined in the Private Securities Litigation Reform Act of
1995. We caution investors that these forward-looking statements are not
guarantees of future performance, and actual results may differ
materially. Investors should consider the important risks and
uncertainties that may cause actual results to differ. These important
risks and uncertainties include those discussed in our 2016 Annual
Report on Form 10-K, subsequent Quarterly Reports on Forms 10-Q, and the
other filings we make with the Securities and Exchange Commission. We
assume no obligation to update this release, which speaks as of the date
issued.
This document outlines in general terms the coverage that may be
afforded under a policy from The Hartford. All policies must be examined
carefully to determine suitability for specific needs and to identify
any terms and conditions that may affect coverage, including, without
limitation, any exclusions or other limitations. In the event of a
conflict, the terms and conditions of the issued policy prevail.
Coverage described in this document may be offered by one or more of the
property and casualty insurance company subsidiaries of The Hartford
Financial Services Group, Inc. Coverage is individually underwritten and
may not be available in all states or to all applicants. In Texas and
California, the insurance is underwritten by Twin City Fire Insurance
Company. This insurance is underwritten by Hartford Fire Insurance
Company, Inc., and its property and casualty affiliates, Hartford, CT.
The Hartford® is The Hartford Financial Services Group, Inc. and its
subsidiaries, including issuing companies, Hartford Fire Insurance
Company, Hartford Life Insurance Company and Hartford Life and Accident
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information, please contact your state Department of Insurance or The
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are as of April 2018.
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