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Daily Insurance Industry News
Friday 27th of April 2018
October 27, 2008

Hiscox and AEGIS work together to protect customer data

by Richard Kilner

Story link: Hiscox and AEGIS work together to protect customer data

Hiscox and AEGIS (an energy mutual based in Bermuda) have joined forces to offer the hundreds of members of AEGIS with privacy and confidentiality risk protection.

The alliance enables AEGIS members access to the Privacy Protection Policy of Hiscox which offers privacy loss (and subsequent breach of data) coverage.

In addition, the notification costs for those affected are also covered by the policy.

AEGIS has made this move due to the possibility of exposure increasing as data volumes held by firms continues to grow, and new technologies become available.

Because of the nature of energy companies they keep a substantial quantity of sensitive customer information, making it particularly important that such firms have strong protection.

Recent large scale losses of personal data in both the public and private sectors have increased the awareness of the issue with both the business sector and the general public.

AEGIS president and CEO, Alan Maguire, explained that Hiscox had been selected because of the insurer’s strong reputation in the field and a level of expertise that would benefit AEGIS’ members.

 

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