Privacy Enhancement Kurtis Suhs, Vice President at Ironshore Insurance Services® , said privacy


and network security coverage is changing all the time as new data security threats, litigation and privacy regulations evolve. “There’s a tremendous need to stay ahead of the curve in this ever changing field of data protection.” The following are excerpts from that interview


How cyber exposures have changed in recent years: The responsibility of a company has been to protect their cus- tomer’s data. Heightened regulatory scrutiny, state legislation as well as individual contract requirements have all placed additional pressure on companies to increase their level of customer data protection. Today, there is a much greater bur- den upon the company to protect that information.


Founded by industry leaders Bob and John Clements in 2006


One of the fastest growing companies in the industry


What Ironshore is doing to address these changes: We believe that it is better to have an investment in loss prevention than to try to recover from a data breach. And so, we’ve introduced the Ironshore Highly Protected Infor- mationSM


endorsement. The Highly Protected Information


KURTIS SUHS Vice President, Ironshore Insurance Services


about 15 years ago and the actuarial information is still developing over time but I can say that certainly the insurance companies are getting claims, our policyholders are getting losses and the plaintiff’s bar is active in pursuing recovery for their clients. So it continues to grow.


“ ” The first cyber product was introduced


endorsement provides smaller and midsize companies with data security resources with access to an on-call chief security officer as well as an attorney that can provide com- pany policyholders with advice to minimize the risk of a data breach.


What the coverages include: The coverages have broad- ened over the years and cover both the liability for a com- pany that’s being sued because of a breach of information, whether it’s electronic, paper or information in verbal form. It also covers the first-party expenses—for example, the business interruption, the loss of digital assets and any loss related to a network extortion. Then, as a third component, the policy also extends coverage to certain privacy breach expenses relating to notification, forensic investigation and other crisis management services.


What makes Ironshore a leader in this market: We rec- ognize again that pre-loss control is a really important key for long-term success of protecting your information. And so we feel that a company that can utilize these loss-control tools on a pre-incident basis is best protected in the long term.


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Best’s Review October 2012


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