Insurance companies

Insurance companies are experts at dealing with customer risk. You also need to protect your own company from risk. Threats can come from anywhere: an external data breach, an employee committing fraud or even a natural disaster. Zurich’s experienced risk-engineering specialists use predictive analytics to help you foresee how your institution may be vulnerable. By learning what your company is up against, Zurich can help you mitigate risk.

Why Zurich?

Zurich has a proud history and bright future with financial institutions. By combining a focus on technology with more than a century of  experience, Zurich is uniquely equipped to help protect you  from traditional and emerging risks. Zurich continues to develop cutting-edge tools to help deliver the products and services our customers need. 

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Solutions for insurance companies

Security and privacy insurance protection

The insurance industry collects and processes an increasing amount of customer data, putting sensitive company material at risk every year. Zurich financial specialists use risk foresight to help you assess, mitigate and manage risk to potentially reduce security breaches.

Zurich’s security and privacy protection is available as a stand-alone product or as part of Zurich’s Financial Institutions Select®, which includes security and privacy insurance protection as part of its management and professional liability coverage.

Third-party coverages:

  • Security and privacy liability coverage
  • Internet media liability coverage

First-party coverages (available as options):

  • Privacy breach costs coverage
  • Business income loss and dependent business income loss coverage
  • Digital replacement expense coverage
  • Cyber extortion threat and reward payments coverage
  • Covers certain legal and public relations expenses

To help prevent and respond to online security breaches, Zurich offers award-winning risk management tools such as:

  • Our E-Risk Assessment tool to help you assess and manage potential security-breach exposure. You’ll have direct access to a risk management professional to answer questions and support preventative measures.
  • Complimentary access to eRisk Hub®, a web-based information resource from NetDiligence®* that can help you reduce the risk of a breach, and recover if one occurs.

* NetDiligence, Inc. is not a subsidiary or affiliate of Zurich and use of their products and services are independent of, and not included within, Zurich’s products or services. Zurich expressly disclaims any and all damages and other costs that may arise related to the use of or reliance upon the products, services, representations or warranties made by or on behalf of NetDiligence, Inc.

Workforce mobility

Business travel has become expected in corporate positions. Our premier travel assistance program, Zurich Travel Assist®, services your employees in transit with business travel accident insurance. Our experienced underwriters will work with you to design a program that meets your organization’s requirements, and provide your employees with coverage in the right place and at the right time.

Zurich’s global travel assistance coverage features:

  • 25+ optional coverages, plus a broad suite of endorsements/riders 
  • Medical, security, personal, legal and information assistance
  • Access to security monitoring and evacuation services in the event of unexpected political unrest or a natural disaster
  • 24/7 availability of more than 6,000 multilingual travel professionals

This is intended as a general description of certain types of insurance and services available to qualified customers through World Travel Protection Canada Inc. (WTP). WTP operates as a third party travel insurance administrator for Canadian life insurance companies and banks, and is expanding its travel assist capabilities internationally. 

Zurich Travel Assist is a registered trademark for travel assistance coverage and administered by World Travel Protection, a member company of the Zurich Insurance Group.

Professional liability for in-house legal team

Prepare for legal oversight and negligence claims by adapting coverage for your general counsel. Our new Employed Lawyers Select® policy offers professional liability coverage, along with a number of benefits.

Zurich’s Employed Lawyers Select is designed for public, privately-held and not-for-profit companies. It provides errors and omissions coverage specifically designed for your in-house legal counsel and support staff, and professional liability protection against lawsuits arising from the legal services your employed lawyers provide.

Employed Lawyers Select features:

  • Broad definition of “insured” that extends to contract and part-time employed lawyers, as well as those working under their supervision, such as paralegals, notaries and support staff
  • Flexible, extended reporting period of up to six years for the entity, and an option for individual insured person extended coverage
  • Broad coverage for moonlighting and pro bono work
  • No sublimit for securities claims

Environmental liability from commercial real estate-backed loans

As environmental-contamination issues continue to grow, they are more sensitive and prone to litigation. If your company is invested in commercial real estate, this can affect your bottom line. Zurich’s Lender Environmental Collateral Protection policy can help protect companies that hold or invest in individual or portfolio loans backed by commercial real estate. In the event of a loan default and discovery of environmental contamination, the policy provides coverage to help protect collateral value and related financial losses. Lender Environmental Collateral Protection offers features such as:

  • Claim reopening for discovery of new and/or additional cleanup costs
  • Coverage for the term of the loan to maturity
  • Waiver of subrogation against borrower in possession
  • Assignment of interest may be assigned to successor lien holder
  • Primary insurance wording
  • Deductible starting at $0
  • Automatic 60-day extended reporting period (ERP)
  • Optional extended reporting period up to three years
  • Faster and easier loan processing
  • Better insurance protection from existing and new environmental exposures
  • Lower costs compared to traditional due diligence or mitigation methods

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