Devon Park Specialty’s Errors and Omissions, Media and Privacy (EMP) product, which provides coverage on a modular form, is introducing some important updates. The updates include:
- Full limits for dependent business interruption loss
- Full limits for system failure
- Full limits of bricking coverage: enhances data asset restoration coverage to include replacement of hardware deemed inoperable after a cyber event
- Cryptojacking coverage: enhances telecommunications fraud coverage to include excess utility usage by the insured if their computer system is hijacked to mine cryptocurrency
- Criminal reward coverage: enhanced to a $50,000 sublimit for any information leading to the conviction of anyone committing an illegal act related to coverage provided under the policy
- Voluntary shutdown: provides business interruption coverage for a security event under additional circumstances, including a voluntary shutdown or a shutdown required by a governmental entity
The EMP product targets a broad range of miscellaneous professionals and technology companies with up to $500 million in annual revenue.
These updates are also available on our Excess Professional policy when the primary carrier is offering any or all of the above.
