CHES Special Risk has expanded its professional lines portfolio by introducing a new insurance solution for the online gaming industry.
In an emailed news release, the managing general agent (MGA) described its new Game 360 policy as an errors and omission (E&O) solution that covers a wide range of civil liabilities, including intellectual property breaches. It also provides full cyber coverage to mitigate the threat of cyberattacks that can disrupt gaming operations and compromise sensitive player data.
The gaming industry encompasses console and computer game developers, game studios, gambling game developers, operators, and software providers. Its revenue is expected to jump 2.6% to $187.7 billion this year, according to gaming market research firm Newzoo.
Michael Chaplik, senior underwriter - professional lines at CHES Special Risk, said the new offering addresses the unique challenges faced by businesses operating within such a rapidly growing industry.
“Our Game 360 policy offers a full civil PI wording that comprehensively covers all civil liabilities, including intellectual property breaches,” he said. “We also provide robust cyber coverage to protect against the growing threats in the digital realm.”
CHES Special Risk announced the launch of Game 360 after it shared news of its insurance offerings for tour operators, travel agencies, adventure tour operators, student tour operators, and other similar businesses. Some coverage highlights for this package include commercial general liability, errors and omissions, worldwide territory, reputation management, and first-dollar defence.