Hiscox Expands Technology and Cyber Risk Solutions With Hiscox ClearTech™
NEW YORK, NY -- June 06, 2016 - Hiscox, the international specialist insurer, today announced the expansion of its technology and cyber risk coverage with Hiscox ClearTech™, a clear, tailored insurance solution designed for technology businesses of all sizes and across a wide range of industries. Hiscox ClearTech offers a new surplus lines form for technology-related risks and incorporates cyber coverage through its existing Hiscox CyberClear™ platform, which came to market in April 2016.
For nearly 20 years, Hiscox has been a pioneer in the technology and cyber-related insurance industry. Building upon this expertise, Hiscox developed a suite of cyber and technology coverages that allow clients to create a policy that addresses their unique and specific exposures. Hiscox ClearTech provides a solution that expands upon Hiscox's existing coverage for small businesses to now include middle-market and large enterprises across a variety of industries with one mission -- to provide clear, comprehensive coverage to empower businesses to face today's most pressing risks head-on.
"Hiscox has been in the technology insurance space for nearly two decades, over which time the market has undergone a paradigm shift driven by the emergence of new risks and threats," said Dan Burke, Technology Product Head at Hiscox. "Although this market is complex, it doesn't need to be complicated.
Hiscox ClearTech will provide technology software and services companies with a clear, tailored insurance package, which includes access to a global network of technology and cyber lawyers and technical specialists. This helps ensure that our clients both understand their exposures and have the right tools to mitigate their risks."
Hiscox ClearTech provides technology companies such as software developers, technology consultants, IT staffing firms, web marketing companies, social media companies, mobile app developers and hosted software platforms with protection that addresses their most significant exposures, including:
- Technology Liability -- Coverage designed specifically for the technology industry with unique features not available under most standard technology or miscellaneous professional liability policies. Hiscox ClearTech also includes broad intellectual property coverage, including protection for claims of misappropriation of trade secrets, negligence, and service credit, as well as wide vicarious liability coverage for third-parties.
- Cyber Liability -- Covers the costs to defend and resolve claims with regard to claims alleging the mishandling of personally identifiable or confidential corporate information, negligence, violation of privacy or consumer protection law, breach of contract and regulatory investigations, as well as issues resulting from the failure of network security, including the negligent transmission of a virus and the inadvertent participation in a Distributed Denial of Service (DDoS) attack against a third party.
Hiscox USA provides a variety of specialty risk solutions including a broad spectrum of professional E&O, GL, cyber and data security, media liability, management liability, crime, kidnap & ransom, terrorism and commercial property insurance products. The Hiscox American Courage Index™ is the first survey to track personal and professional courage across the United States.
In the U.S., Hiscox has offices in New York, NY; Atlanta, GA; Chicago, IL; Dallas, TX; Los Angeles, CA; San Francisco, CA and White Plains, NY.
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Additional information can be found at https://www.hiscox.com/brokers.
Follow Hiscox USA on Twitter @Hiscox_USA.
About Hiscox in the U.S.
Hiscox, the international specialist insurer, is headquartered in Bermuda and listed on the London Stock Exchange (LSE: HSX). There are three main underwriting parts of the Group -- Hiscox London Market, Hiscox UK and Europe and Hiscox International. Hiscox International includes operations in Bermuda, Guernsey and the USA. Hiscox Syndicates Ltd is authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. The ability of syndicates at Lloyd's to do business in the USA and its territories is restricted as they are not US-based insurers. The publication and delivery of this information are not intended to be a solicitation by Lloyd's for the purchase of insurance on any US risk. Hiscox Underwriting Limited and Hiscox ASM Limited are authorized and regulated by the Financial Conduct Authority.
Hiscox Inc., a Delaware corporation headquartered in New York, d/b/a Hiscox Insurance Agency in CA, is a licensed insurance intermediary for admitted and surplus lines business. Hiscox Inc. underwrites on behalf of, and places business with, Hiscox Insurance Company Inc., other domestic insurers, and syndicates at Lloyd's (www.lloyds.com). Hiscox Insurance Company Inc. is a Chicago, IL domiciled insurer which is admitted or licensed to do business in all 50 states and the District of Columbia.
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