Last week, Chubb announced that it would begin offering personal lines coverage in four states for costs related to cyberbullying. The coverage would reportedly insure costs for “psychiatric services, rest and recuperation expenses, lost salary, temporary relocation services, education expenses, professional public relations services, and cyber security consultants.”
The cyberbullying protection would cover expenses up to $60,000. Chubb will offer the coverage to its homeowners insurance policyholders who purchase a Family Protection policy, which Chubb says generally costs $70. According to Christie Alderman, a Vice President at Chubb, the new coverage “helps victims reclaim their lives” after cyberbullying incidents. In the near future, Chubb expects to offer the coverage to policyholders in states other than Indiana, Colorado, Wisconsin, and Illinois.