MORRISTOWN, N.J.–(BUSINESS WIRE)–Berkley Cyber Risk Solutions, a Berkley Company, is excited to announce that it will offer Crisis Counseling Coverage as part of its Berkley Cyber Risk Protect® product beginning May 1, 2024. The new coverage will provide reimbursement for the cost of crisis counseling incurred by employees of insureds experiencing cyber breach events. This limit will be outside the limits of liability, and there is a $0 retention. The coverage is offered in recognition of the inherent mental and emotional trauma that a breach event can cause.
“We see the tremendous emotional impact that our insureds experience when dealing with a breach event and recognize their need for resources to cope with the stress, and not just to remediate the event,” said Rich Sheridan, Chief Claims Officer of Berkley Cyber Risk Solutions.
The endorsement provides access to the professional counseling services of its approved vendor, BetterHelp, which has partnered with Berkley Cyber Risk Solutions to provide this benefit.
“For some of our insureds, dealing with a breach event can be one of the more stressful experiences in their employees’ lives. Coordinating these services and providing this coverage fits with our corporate culture of doing the right thing for our customers,” said Tracey Vispoli, President of Berkley Cyber.
About Berkley Cyber Risk Solutions
Berkley Cyber Risk Solutions, a Berkley company, is solely dedicated to providing innovative cyber insurance products and loss prevention services to customers in all industries, and of all sizes. For more information about the products and services offered by Berkley Cyber Risk Solutions, please visit www.berkleycyberrisk.com.
Products and services are provided by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction, and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued. Certain coverages may be provided through surplus lines insurance company subsidiaries of W. R. Berkley Corporation through licensed surplus lines brokers. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds. Berkley Cyber Risk Solutions conducts business in California as Berkley Managers Insurance Services, LLC, a licensed surplus lines broker (Lic. No. 0H05115).
Contacts
Berkley Cyber Risk Solutions
Tracey Vispoli
President
[email protected]
