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EMC insurance releases data compromise coverage


EMC Insurance Cos. recently rolled out a new data compromise and identity recovery product, becoming one of the first of a limited number of companies to offer this kind of coverage.

The coverage, designed to help small and mid-size businesses respond to data breaches, provides identity recovery within the insured organization, cost mitigation for notification and potential legal action, reputational risk-management services, and first- and third-party coverage under one policy.

EMC has received approval to sell the product in 39 states, including Iowa, with approval pending in two additional states, spokeswoman Lisa Hamilton said. The insurer is targeting small, to medium-sized businesses such as “Main Street retailers and municipalities, she said.

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