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OneBeacon Professional Insurance And NetDiligence Enter Relationship Regarding Online Cyber Risk Resource Portal

Stocks in this article: OB

MINNETONKA, Minn., Feb. 4, 2013 /PRNewswire/ -- OneBeacon Professional Insurance (OBPI), a member of OneBeacon Insurance Group (NYSE: OB), today announced that eRiskHub ® is now available to its Network Security and Privacy Liability policyholders.  eRiskHub ®  - provided by NetDiligence  - is an online cyber risk portal designed to assist companies in their evaluation of data security risks and their management of data breaches, network attacks and other cyber events.

"Intellectual property, client data, trade secrets and personally identifiable information help to manage and streamline business functions and transactions," points out David Molitano, Vice President of OneBeacon Professional Insurance's Content, Technology and Services Division.  "However, they also represent high-value targets for hackers.  We are providing access to the eRiskHub ® portal to our customers to enable them to consider options when seeking to prevent a data breach and reacting promptly should one occur.  We feel strongly that the informational and educational aspects of eRiskHub ® will be extremely helpful to our insureds."

The eRiskHub ® portal is designed to provide up-to-the-minute cyber risk information and other powerful features such as:

  • Risk Manager Tools – self-help for managing cyber risk, including a cyber risk assessment survey, breach notification guides, what-if modeling tools to estimate the cost of a breach and research tools to monitor the type, frequency and severity of incidents occurring in a particular business sector.
  • Incident Roadmap – suggested steps that may be appropriate following a network or data breach incident.
  • News Center – articles on major breach events, security and privacy blogs, IT security updates, risk management events and helpful industry links.
  • Learning Center – a library of articles, white papers and webinars from leading technical and legal practitioners.
  • eRisk Resources – a directory that may help in finding third-party resources with expertise in pre- and post-breach disciplines.

"Whether by hacker, computer glitch or staff mistake, most companies are at risk for a data breach incident," said NetDiligence President Mark Greisiger. "The key is whether a company can handle the incident calmly, quickly and effectively. eRiskHub ® provides tools, materials and access to experts that may help a company in its efforts to mitigate the damage."

The Network Security and Privacy Liability policy is primarily underwritten by one of the following insurance companies: Homeland Insurance Company of New York or Homeland Insurance Company of Delaware.

About OneBeacon Professional Insurance: OneBeacon Professional Insurance is a member of OneBeacon Insurance Group that specializes in professional liability solutions for targeted industries including hospitals, long-term care facilities, medical facilities, physician groups, media organizations, lawyers, real estate professionals, design professionals, financial services and technology providers.  Additionally, OneBeacon Professional Insurance provides employment practices liability insurance, management liability and tailored products for complex organizations including health care provider excess insurance and HMO reinsurance. General liability, property and workers compensation coverages are also available for financial institutions.

About OneBeacon: OneBeacon Insurance Group, Ltd. is a Bermuda-domiciled holding company that is publicly traded on the New York Stock Exchange under the symbol "OB." OneBeacon's underwriting companies offer a range of specialty insurance products sold through independent agencies, regional and national brokers, wholesalers and managing general agencies. Each business is managed by an experienced team of specialty insurance professionals focused on a specific customer group or industry segment. OneBeacon's solutions target professional liability; ocean and inland marine; entertainment, sports and leisure; excess property; environmental; group accident; programs; public entities; commercial surety; technology; and tuition refund. For further information about our products and services visit: www.onebeacon.com and to remain up to date on OneBeacon's news, follow us on Twitter @OneBeaconIns or visit our online newsroom: www.onebeacon.com/newsroom.

About NetDiligence: NetDiligence's cyber risk assessment services are proven, reliable safeguards for corporate and financial institutions whose success relies on computer resources, information assets, and the least possible network liability risk.

Our panoramic cyber security assessment approach identifies potentially ruinous e-perils such as:

  • System and process vulnerabilities
  • Hacker exploits
  • Privacy policy violations
  • Web content intellectual property infringement

Since 1998, our team—industry veterans from IBM and EDS—has pioneered proprietary security techniques that combine cutting-edge technology with traditional risk management principals. As a result, we have assessed and tested hundreds of business and community banks for network liability insurance qualification purposes.

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