OneBeacon Professional Insurance Introduces New Technology Errors & Omissions Coverage

OneBeacon Professional Insurance (OBPI), a member of OneBeacon Insurance Group (NYSE:OB), announced a new Technology Errors & Omissions (E&O) product targeted to technology firms, including application service providers, software developers, technology consulting firms, and companies involved in systems integration and maintenance.

Said David Molitano, OneBeacon Professional Insurance's Vice President of Technology E&O, "As technology organizations continue to evolve, there is a tremendous exposure to this type of risk. So much business is conducted online now that when applications fail, affected companies often seek to hold those who developed the application responsible for the failure. Our product provides tailored liability protection for entities that provide, develop or design hardware and software used to conduct business online."

OBPI's Technology E&O insurance includes coverage for Professional and Technology Services Liability, Technology Products Liability, Media Liability, and Network Security and Privacy Liability. The Professional Services insurance can also extend coverage to certain non-technology related services. In addition, OBPI's policy provides coverage for certain costs associated with complying with a breach notification law. This is all available to prospective insureds through one standard policy form, with limits up to $10 million. Both primary and excess coverages are available.

Specialized protection and features include Media Liability coverage for online and offline media communication activities; worldwide coverage; coverage for copyright infringement in connection with the development of a technology product; and a definition of insured that includes independent contractors.

OneBeacon Professional Insurance is a member of OneBeacon Insurance Group that specializes in professional liability solutions for targeted industries including hospitals of all sizes, physician groups, managed care organizations, long-term care facilities, health care facilities, media organizations, lawyers, real estate professionals and design professionals. Additionally, OneBeacon Professional Insurance provides employment practices liability insurance, management liability and tailored products for complex organizations including health care provider excess insurance and HMO reinsurance.

About OneBeacon: OneBeacon Insurance Group, Ltd. is a Bermuda-domiciled holding company that is publicly traded on the New York Stock Exchange under the symbol "OB". OneBeacon Insurance Group's underwriting companies offer a range of specialty and personal insurance products sold through select independent agents, regional and national brokers, and wholesalers. The company's specialty businesses include OneBeacon Professional Insurance, International Marine Underwriters, Entertainment Brokers International Insurance Services, Specialty Accident and Health, OneBeacon Government Risks, OneBeacon Energy Group, A.W.G. Dewar (tuition refund), collector cars and boats written through Hagerty Insurance Agency, OneBeacon Technology Group, OneBeacon Financial Services, OneBeacon Specialty Property, and Property and Inland Marine.

As one of the oldest property and casualty insurers in the United States, OneBeacon traces its roots to 1831 and the Potomac Fire Insurance Company. Today, OneBeacon's specialty insurance businesses are national in scope while personal lines business is concentrated in the Northeastern United States.

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