IMU adds “information risk coverage”

New York City-based International Marine Underwriters (IMU), a member of Minnesota-based OneBeacon Insurance Group, has begun to offer “information risk coverage” which it said would “address a broad range of cyber incidents including data breach, threat of intrusion or interference with computer systems, damage to data and systems from cyber-attack and cyber-related litigation”.

IMU said that the cover was available as an endorsement to existing IMU marine policies, including yacht club, marina and commercial marine package and certain hull and protection & indemnity policies.

The cyber cover includes first-party and third-party liability coverage for threats including data compromise response expenses; computer attack; cyber extortion; data compromise liability; network security liability; and electronic media liability.

IMU is also offering access to eRiskHub, an online risk management portal designed to help customers prepare and respond to data breach and cyber-attacks.

IMU offers ocean marine insurance products across the US and Canada including commercial hull and marine liabilities at both the primary and excess levels; ocean and air cargo with coverage extensions such as inland transit, warehousing and processing; yachts; and several marine package products with comprehensive property, auto and liability coverage.