As state and local governments find themselves in possession ofmore private information that could be illegally accessed online,Cyber Liability is a coverage area of growing interest forpublic-sector risk managers.
|“We now have access to credit-card numbers and other [sensitivedata] that historically we didn't have,” says Cindy Mallett,human-resources and risk manager for the city of Gainesville,Ga.
|“We're starting to think about the risks associated with thatand starting to look at products in the market to address that inthe public sector,” Mallett notes.
|“Cyber is the hot [coverage] everybody's talking about,” addsWilliam F. Becker, executive vice president for Aon Risk Solutionsand head of the firm's Public Sector practice.
|Insurers are already working on solutions. Travelers InsuranceCos. recently launched Public Entity Cyber+ Liability, offeringnetwork protection against hacking, phishing and other forms ofinformation breach. The product also provides coverage for defensecosts against lawsuits and claims against public entities.
|The Ace Group offers worldwide public-sector cyber coverage viaAce GPS, a product that protects public, private and nonprofitentities against loss or corruption of data and virus or hackerattacks across international borders.
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