Allianz Global Corporate & Specialty (AGCS) recently announced it is introducing its “next generation” cyber and professional liability product. Designed specifically for the North American Market, ACCEPT Protect offers “individual or blended solutions for emerging threats across the Cyber, Media, Technology, and Miscellaneous Errors & Omissions (E&O) markets.” Additionally, ACCEPT Protect builds on Allianz’s existing Cyber Protect Premium by offering the option of broad coverage for “various professional indemnity (PI) exposures as part of the same policy if needed.”
Emy R. Donavan, AGCS North American head of Cyber and U.S. head of E&O, described ACCEPT Protect as “a true a la carte offering, providing brokers and clients the option of having their cyber and PI exposures covered under one policy. For those that do not need the expanded coverage,” explained Donavan, “they can choose the stand-alone cyber solution. For clients that perform services for others, they can incorporate their professional liability under the same program without having to negotiate a second set of policy terms and conditions. This form’s flexibility allows us to customize coverage for each client, which is unique and groundbreaking.”
Additionally, Accept Protect offers access to risk management services through eRiskHub® in addition to industry experts providing security assessments, mitigation services and cyber-attack simulations. “Clarity is key when negotiating a contract and AGCS has responded to the market’s demand for a simplified form that aligns coverage to the unique cyber and professional liability exposures of each client,” Donavan explained. “The innovative construction of ACCEPT Protect simplifies the insurance purchasing process, providing clients with a clear picture of their coverage and greater peace of mind.”