RICHMOND, Va., Dec. 10 /PRNewswire-FirstCall/ -- Markel Corporation is
pleased to announce the launch of DataBreach(SM), its new information risk and
privacy liability insurance product. DataBreach(SM) helps businesses manage
risk associated with their reliance on information technology systems as it
relates to confidential information in their custody or care.
DataBreach(SM) was created in response to the increase in identity theft
that has been plaguing businesses worldwide in the past few years. It provides
coverage for liabilities arising out of the breach of a company's duty to
protect confidential information, whether it's on their website, network, the
hard drive of a laptop, or in a paper file. The coverage also extends to a
businesses liability arising out of an employee's misuse of his/her access to
Due to the rise in identity theft, in recent years the government has
stepped in by imposing data privacy regulations upon businesses that store
personal information. Given that, businesses that must comply with HIPAA, GLB
and Red Flag rules would find DataBreach(SM) of particular value.
Gerry Albanese, Markel Corporation's chief underwriting officer, said of
the new coverage: "We're very pleased to bring DataBreach(SM) into the
marketplace. With identity theft on the rise, the timing couldn't be better.
The coverage offers businesses needed protection against the type of liability
typically connected with unauthorized access to computer or other information
DataBreach(SM) offers many desirable features, some of which follow:
-- Liability coverage for identify theft, breach of privacy, failure to
protect confidential client data, transmission of spyware, viruses and other
-- No sub-limit for defense of data privacy regulatory investigations.
-- Breach Mitigation coverage for notification, voluntary credit
monitoring and public relations expenses
-- First party coverage for extortion, extra expense and restoration costs
arising from an unauthorized access.
-- Electronic media coverage for non-media companies.
Markel Corporation markets and underwrites specialty insurance products
and programs to a variety of niche markets. In each of these markets, the
Company seeks to provide quality products and excellent customer service so
that it can be a market leader. The financial goals of the Company are to earn
consistent underwriting profits and superior investment returns to build
shareholder value. For more information on the Markel Group of companies,
please visit www.markelcorp.com.
SOURCE Markel Corporation
/CONTACT: Letha Heaton, +1-847-572-6250, firstname.lastname@example.org,
Strejc, +1-847-572-6252, email@example.com, both of Markel
/Web site: http://www.markelcorp.com