The Chubb Group of Insurance Cos. has launched a new CyberSecurity policy to help improve the protection commercial organizations receive against losses resulting from data security breaches.

The policy from the Warren, N.J.-based company will include third-party cyber liability and first-party cyber crime expense protection in addition to Chubb’s Risk Matrix, an online security assessment tool, to help evaluate the overall effectiveness of the organization’s risk controls against a cyber-security breach.

“Chubb’s next generation cyber-liability insurance solution addresses the growing risks associated with conducting business electronically, from identity theft to e-business interruption,” said Tracey Vispoli, vice president of Chubb & Son and Chubb’s global cyber-solutions manager, in a statement.

Under the third-party liability insurance, customers will be covered for disclosure injury, content injury, reputational injury, conduit injury and impaired access injury. First-party cyber insurance provides six optional coverages of privacy notification expenses, crisis management and reward expenses, e-business interruption, e-communication loss, e-theft and e-vandalism expenses.

“A company’s existing policy most likely will not help protect against these data security exposures or may only offer protection for specific exposures, leaving gaps in their coverage,” said Vispoli in a statement.