PENNSYLVANIA INSURANCE COVERAGE INTRODUCED FOR PROTECTION AGAINST COMPROMISED DATA Fireman's Fund(R) Introduces Data Compromise Coverage for Business Customers - - insurancenewsnet.com:
Fireman's Fund(R) Introduces Data Compromise Coverage for Business Customers
Employees and Others Affected by Data Breach Business Editors/Technology Editors/Insurance Writers
NOVATO, Calif.--(BUSINESS WIRE)--March 12, 2007--Fireman's Fund Insurance Company has introduced Data Compromise, a coverage and service solution for businesses that provides legal consulting, customer notification services and credit monitoring as well as identity restoration for customers, employees and others affected by a data breach.
Any business that stores personal information, such as Social Security numbers, credit card information or health information, can be the victim of a data breach. Networks can be hacked, a laptop computer stolen or personal information inadvertently revealed in an email or on a Web site. Personal information can be compromised - lost, stolen or divulged - impacting the company and ultimately affecting its reputation and bottom line. Fireman's Fund's Data Compromise coverage helps businesses respond quickly and effectively to a data breach, covering the costs to notify affected individuals and providing a suite of services, from credit report monitoring to identity theft restoration case management.
"Many state laws require businesses to notify individuals whose information has been compromised, and it's only a matter of time before a Federal law is enacted," said Mike Roney, senior director, commercial business at Fireman's Fund. "In order to help our policyholders remain compliant, as well as maintain goodwill with their valuable customer base, we have created our Data Compromise coverage, which provides assistance throughout the data recovery process."
Fireman's Fund's Data Compromise coverage provides professional assistance and consulting for the business affected as well as for their valued customers. The coverage includes:
Consultation
Fireman's Fund works with the business to determine next steps in the event of a data breach, including a legal and forensic technology review.
Payment for Notification
Data Compromise pays for notification to those individuals affected by the breach of personal information - customers, employees and others.
Toll-Free Hotline and Credit Monitoring Service
Fireman's Fund covers the establishment of a toll-free hotline for questions and information regarding the data breach, and provides access to a credit monitoring service.
Identity Theft Case Management Services
Individuals affected by a breach of their personal information will have access to one of the world's leading security and identity recovery specialists during this process.
"Companies that aren't able to provide high-quality services for affected individuals are at increased risk of alienating their customers and hurting their public image," said Roney. "Data Compromise is designed to provide businesses with a practical solution to a very real problem."
To complement the Data Compromise coverage, Fireman's Fund has created a Data Security Resource Center on its iCustomer Series(R) Web site with information on key data security issues and access to resources for identity theft restoration. This online Web resource is available to all commercial policyholders and provides a tool to assist in identifying key risks and exploring steps to reduce losses.
About Fireman's Fund Insurance Company
Fireman's Fund is a premier property and casualty insurance company providing personal, commercial and specialty insurance products nationwide. Fireman's Fund is a member of the Allianz Group (NYSE: AZ), one of the world's largest providers of insurance and other financial services. For more information about Fireman's Fund, visit our website at www.firemansfund.com.
Legend
Location Of Theft in AQUA BLUE
URL Of Linked Article In STEEL BLUE or GREEN
Full Content Of Article In BLACK
Theft Description In Body Of Article in RED
URL Of Linked Article In STEEL BLUE or GREEN
Full Content Of Article In BLACK
Theft Description In Body Of Article in RED
Wednesday, March 21, 2007
Labels:
Data And/Or Identity Theft Issue
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