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Allied World North America has launched a privacy and network security insurance product, Privacy//101, tailored for the Canadian marketplace. Designed for small to mid-size companies, including law firms, health care, and other organizations, Privacy//101 provides comprehensive protection in the event of a data breach involving lost or stolen private information, whether paper or electronic, the company said.

In a statement, Allied explained that Privacy//101 provides coverage for costs associated with a data breach including the costs of notification to all individuals whose private information has been lost or stolen; associated credit monitoring costs; public relations expenses; and costs incurred by the insured to retain a qualified data forensics firm. Privacy//101 also provides coverage for third party financial claims, including legal fees and expenses incurred by the insured, and fines and penalties assessed pursuant to Canadian federal and provincial law.

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