XL Group introduces preferred rates with data breach response specialists

Six months after it launched its new cyber and technology risk unit in North America, commercial insurance carrier XL Group plc announced Monday it has a ‘network of prequalified breach response specialists’ to help its clients respond to computer security breaches.

Dublin, Ireland-based XL Group said its New York City-based North America cyber and technology risk unit has a 24/7 hotline, which gives clients access to firms specializing in services including public relations, legal advice, credit monitoring, data breach notification and call centre operations.

XL said in a press release it has “negotiated preferred rates” with its breach response partners, some of which are computer security firms.

Vendor partners of XL’s North America cyber unit include: Navigant Consulting Inc.; General Dynamics Fidelis Cybersecurity Solutions (whose services include network monitoring, breach containment and remediation); San Francisco-based Kivu Consulting Inc., which provides computer forensics and data breach response services; McGladrey LLP; Stroz Friedberg; and Kroll Cyber Security and Information Assurance, whose services include data breach notification and remediation.

“Our network includes computer forensics, data breach notification providers and legal counsel to help our clients navigate sensitive breach situations expeditiously,” stated John Coletti, chief underwriting officer of XL Group’s cyber and technology unit, in the Dec. 22 release. “This collection of expertise gives our clients more options and greater flexibility to choose the most suitable vendors for their needs.” 

Other vendor partners include:  Austin, Texas-based AllClear ID Inc. (whose services include credit and identity monitoring); Immersion Ltd. (a Claysburg, Penn. subsidiary of NPC Inc. that provides data breach response services); and Intelligent Business Concepts Inc. (IBC, which provides data breach response services).

Its legal counsel partners include Lewis Brisbois Bisgaard & Smith LLP, Norton Rose Fulbright and Baker Hostetler. Its public relations partners include Inform LLC and Levick.

XL announced the launch of its North America cyber and technology risk unit in June. The unit provides coverage for data protection and privacy risks, “both for third-party claims and first-party mitigation costs,” arising from a computer security incident.

In September, XL said its cyber insurance policy includes additional coverages, including an extension for outsourced providers and “expanded privacy and security protection to include confidential business information in addition to protected health information and personally identifiable information (PII).”

Coverage from XL is available for “legal and voluntary data breach notification and crisis management costs, loss of business income, costs to recover data, costs to respond to regulatory inquiries or an investigation and costs to defend and indemnify any subsequent third party claims including class action claims,” XL Group said in a Sept. 3 release.