Integrity+ by CHUBB® is available in the U.S. for the unique risks faced by technology, life sciences, advanced manufacturing, healthcare information technology, clean tech, and process control/integration companies. This enterprise-wide, integrated solution offers four liability insurance coverages that can stand alone or work together to help protect companies from Errors or Omissions; Destructive Programming; Cyber; and Intellectual Property Infringement, Disclosure of Confidential Information and Reputation Disparagement."Technology has transformed how companies do business and has created new exposures," said Richard P. Reed, Senior Vice President and Commercial Insurance Errors and Omission Product Manager, Chubb North America. "Integrity+ offers companies the flexibility to select the insurance protection they need to address liability lawsuits alleging that a company's product or service caused financial injury due to privacy violations, intellectual property infringements or other offenses."
"The smallest misstep by a firm can quickly result in a costly customer errors and omissions liability lawsuit," said Veronica Somarriba, Executive Vice President and Commercial Insurance Technology and Manufacturing Segment Manager, Chubb North America. "For instance, an employee at a software developer may infringe another company's copyright-protected source code, or a flaw in electronic medical record software might enable a hacker to compromise a patient's privacy. Integrity+ is designed to provide the breadth of protection needed to help a company from such evolving risks."
First Party Cyber Coverages
In addition to its four base coverages, Integrity+ offers First Party Additional Coverages for expenses incurred in connection with a privacy data breach, including Notification, Forensic, Remediation Expenses, and Investigation and Defense of Regulatory Actions. These First Party coverages, in addition to Cyber-Threat, are included in a Basket Limit of Insurance-separate from the limits of insurance purchased for one or more of the liability coverages-and gives companies the flexibility to apportion insurance dollars where they are needed most at the time of loss.
Also available are Other First Party coverages with separate, specific limits of insurance for Cyber-Reward Expenses; Fines or Penalties; Confidential Information Breach Expenses; and Business Income, Extra Expense and Electronic Data Recovery Costs.
Industry Specific Coverages
Integrity+ has three industry-specific coverage extensions that expand the base liability coverages and are designed to meet the unique exposures faced by these industries:
- Advanced Manufacturing: For today's manufacturers data is as important as the manufactured product itself. While this can make companies more competitive, it also creates digital exposures. Integrity+ offers advanced manufacturing companies protection as they continue to integrate digital technologies into their manufacturing processes and incorporate such technologies into their finished products.
- Technology: To succeed, technology companies often take risks which may expose them to greater financial peril. Integrity+ offers insurance protection to preserve technology companies' most important relationships-with customers, vendors, employees, sub-contractors, and shareholders.
- Life Sciences: Confidentiality and integrity of patient data are critical in developing products and services that save or sustain lives. Medical device firms are incorporating Bluetooth and other interconnected technologies that enable real-time access to patient information. Integrity+ offers life sciences companies insurance protection that helps address increasingly data-centric discovery and healthcare-delivery processes.
Liability protection from Integrity+ by CHUBB® is available on a claims-made or claims-made and reported basis. Integrity+ is also available in Canada. Integrity+ by CHUBB® is subject to the terms and condition of the policy as issued.