Data breaches, often triggered by human error, not only compromise security but also bring significant emotional distress and financial impacts to the employees involved. The stress and guilt stemming from these incidents can affect productivity and well-being, leading to a tangible cost for businesses. In response, Berkley Cyber Risk Solutions, a division of the Berkley Company, announced today the addition of Crisis Counseling Coverage to its Berkley Cyber Risk Protect® product suite.
The coverage will reimburse crisis counseling costs for employees of companies insured against cyber breaches, with no retention fees and beyond the limits of liability coverage. This initiative aims to support employees dealing with the psychological aftermath of data breaches.
“Emotional Impact”
Rich Sheridan, Chief Claims Officer at Berkley Cyber Risk Solutions, commented on the emotional challenges faced by victims of cyber incidents. “We see the tremendous emotional impact that our insureds experience when dealing with a breach event and recognize their need for resources to cope with the stress,” said Sheridan. This coverage facilitates access to professional counseling services through BetterHelp, which has partnered with Berkley for this initiative.
Tracey Vispoli, President of Berkley Cyber, emphasized the company’s commitment to their clients. “For some of our insureds, dealing with a breach event can be one of the more stressful experiences in their employees’ lives. Coordinating these services and providing this coverage aligns with our corporate culture of supporting our customers,” Vispoli stated.
This move shifts the focus of cybersecurity insurance to encompass the well-being of the workforce, acknowledging that the repercussions of data breaches extend beyond financial losses. By providing access to counseling services, Berkley is addressing a component of human resources support in the aftermath of cyber incidents, supporting not just the operational recovery but also the emotional resilience of employees.
Source: Berkley Cyber Risk Solutions to Offer New Crisis Counseling Coverage.
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