Exposures to cyber crime are real and very serious. No company, big or small, is immune.

Statistics show that 43% of cyberattacks target small businesses, causing an average loss of $32,000. Sixty percent of uninsured cyber victims do not recover.

Traditional insurance policies generally do not cover cyber incidents.

What Insight Offers

Insight can easily provide you with a competitive and comprehensive Cyber Liability Insurance Package program.

Our standalone program is available to any insurance company that wants to offer cyber coverage without retaining this new, uncertain risk. We also offer the program to insurance brokerage firms looking for a cost effective, in-house solution.

Our cyber program is completely automated. It will quote, bind, accept payments and electronically deliver policies to the producers and their insureds. It covers first- and third-party exposures, data breach response, cyber extortion, PCI, and other regulatory fines and business interruption. It also provides identity theft coverage for the insured's full-time employees, and much more.

Most experts agree that a standalone cyber policy generally provides broader coverage than the "add-on" cyber endorsements found in the current market.

Our Cyber program is plug and play. It's ready to offer today in every state but New York.

This program is a perfect complement to professional, retail, wholesale, and service classes.

As for security, the program is insured by an AM Best A-rated carrier.

Insight assists with the following:

  • Agent training/orientation
  • Marketing brochures
  • Website content/video
  • Toll-free customer service numbers
  • FAQs and web demos to get the agents comfortable with cyber exposures and the coverage
  • Customer Service/Claims Handling. Our service provider and carrier are market leaders in this class, and both have many years of experience in cyber claims.

Real Coverage

  • HR, Information Security and Information Technology modules for optimizing proactive protection
  • Third-party liability insurance coverage and defense regulatory fines & penalties
  • PCI fines and penalties
  • Cyber extortion (e.g. Ransomware)
  • Business identity insurance & monitoring (PRO version)
  • Automatic employee identity protection - A valuable benefit given the recent data breach news stories.
  • eNetwork business interruption
  • Data reconstruction
  • Breach response mitigation expenses for forensic investigations, legal breach notifications, identity monitoring and more.

Real Claims Examples

  • Malicious hacking of a system, shutting down computer systems for an extended period of time resulting in loss of income and extra expenses.
  • A disgruntled employee spreads a virus into a computer system destroying data (and backup sources), resulting in expenses to investigate and recreate data.
  • Teenage hacker sabotages data network with Crypto-Locker type malware, and demands an extortion fee of $50,000 to unlock company data.
  • Extortion demands of $25,000 to prevent sensitive customer data from being released via the internet to identity thieves and the general public.
  • Lost laptop containing sensitive personal information of customers results in a data breach requiring investigation, notification and credit-monitoring expenses.
  • Customer data is breached, class-action lawsuit filed. Duty to defend policy responds.