Cyber Insurance Evolution

Contingent BI Coverage and more…

2017 is a fascinating year so far for Cyber Insurance. As fast as new carrier programs enter the Cyber marketplace, Cyber exposures evolve putting them behind the curve. Cyber Liability exposures manifest themselves in new ways every day, and as America’s Cyber Insurance Experts, US Pro is at the forefront of its evolution.

Today we want to bring you up to speed on the newest Cyber threats, and how these are being addressed by one of our leading carriers.

The Internet of Things (IoT)

The IoT can be summarily defined as any device that is connected to and transmits data through the internet. This connectivity without security presents a variety of vulnerability gaps that may result in a security breach. Such a breach may allow users to gain access to important and even vital network resources, giving them control over the victim. This can be especially problematic for the healthcare industry, manufacturing sector, and many others who rely on network-based systems for their daily operations.

Many of today’s Cyber policies exclude Bodily Injury claims. Extending this coverage for such claims when they arise directly from a security breach or privacy compromise is important in this evolving frontier. This Contingent BI Coverage is important and exciting and the next chapter unfolding in the book of Cyber Insurance.

Look for even more exciting new coverages from US Pro as we are committed to remaining at the forefront of this coverage and America’s Cyber Insurance Experts!!

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