US Pro CLUE Blog

US Pro CLUE Blog

Cyber Liability Underwriting Exposures (CLUE) is a leading industry news source and information medium specifically developed by US Pro for its agency partners.

CLUE gets its information from many resources, including industry experts, underwriters, insurance publications, and multiple web-based articles to keep our customers current in the areas surrounding Cyber Liability Insurance programs.

 

What’s the Difference in Cyber Liability Insurance Anyways

Posted by on Apr 6, 2016 in Cyber Source | Comments Off on What’s the Difference in Cyber Liability Insurance Anyways

What’s the Difference?

Any Cyber Insurance policy is filled with many kinds of coverage parts. These can range from the barest of coverage forms, generally those used by carriers who add it on to a package policy, to the broadest coverage forms used by the leading carriers today.

So how do you choose the right policy? How do you know what the exposures are? These and many other questions are left unanswered, and agents are not given the right tools to get the answers their commercial insureds need.

US Pro is America’s Cyber Insurance Experts. Today, we want to focus on a few important differences that will make a big difference in coverage when an event does occur.

Coverage Triggers
The first step to having the right Cyber coverage is making sure that all the coverage parts needed are included in the policy. However, there is much more to this than just the coverage itself. A good understanding of how the coverage is triggered and by what events is what matters the most. Having the coverage included on the policy is great, but if an event is not a covered cause of loss that triggers the coverage to respond, the Insured is out of luck.

Limits of Liability
Cyber Liability policies are written with one overall aggregate limit for the policy period. Yet within this limit, coverage is then segregated between third party coverage and first party coverage components. Third party coverages have an aggregate limit, and first party coverages do as well. Together, they cannot exceed the policy aggregate, which in most cases is the same amount. Hidden within these general limit practices are the sub-limit of liability amounts for each specific coverage part. It is very important to understand which coverage parts are most likely to be triggered and then to maximize the best sublimit possible for these coverage parts.

Definitions
Another big difference with the various Cyber forms is within the definitions themselves. Key definitions to consider include who is an Insured, the several types of Wrongful Acts covered, as well as what the Covered Causes of Loss are. While coverage can seem and sound broad in scope, the definitions of the policy can be limiting and in some cases exclusionary as compared to other Cyber forms.

Coverage Components
Choosing the right coverage parts is the most important part of the Cyber process. Having strong coverage components is akin to laying the foundation of your entire Cyber program. Using the other considerations written about herein, building the policy with the right coverage parts triggered by broad events, strong coverage provided by the policy definitions, and effective and reasonable sub-limits is the best approach to take in creating your customer’s Cyber coverage.

Claims Management
Once you have built for your customer the right Cyber coverage, it must include strong Claims Management and response provisions. The Insurer should provide the policyholder with resources for immediate assistance in responding to and managing an event under the policy. Having strong Claims management and effective event response is the most important part of mitigating the potential financial impact and reputational harm to an Insured.

There are many other working parts to the Cyber policy, some of which have huge repercussions to an Insured when a claim does occur. Cyber is unlike any other insurance we have seen. It is a complicated Package policy for the intellectual property of an Insured, and no two carriers are the same. Expert product knowledge matters more in Cyber Liability than any other line of insurance a commercial insured can purchase.

It is imperative you make the right choice for your client. You must be an expert, or use someone who is. As America’s Cyber Insurance Experts, we invite you to choose us.

To get your cyber quote today, simply fill out the online submission form, by clicking here!

Exclusive Cyber Program Available Only to US Pro Customers!

Posted by on Mar 29, 2016 in Cyber Source | Comments Off on Exclusive Cyber Program Available Only to US Pro Customers!

America’s Cyber Insurance Experts Just Got Even BETTER!

 
US Pro Insurance Services, nationally known as America’s Cyber Insurance Experts, is excited to announce that we have been exclusively selected to roll out a new enhanced NetGuard program tailor made for US Pro customers nationwide!!

This exciting new variation of the leading coverage form in America, is specially designed for US Pro and its customers to better serve the Mainstreet America insureds they represent. As a result of our feedback to the underwriters, and our expertise in the line of business, the carrier has developed important enhancements that will result in many more successful sales while maximizing coverage available to them.

Exciting NEW Lower Limit Choice and Lower Minimum Premiums!

  • Minimum limits begin at $250,000 limit of liability starts at $400
  • Minimum premium for $1,000,000 limit of liability starts at $500

 
Included in these exciting industry-leading enhancements include:

  • Full prior acts coverage provided for risks with no claims/events
  • Cyber Crime coverage included
  • Privacy Breach Response Costs provided outside the limit for most classes
  • BrandGuard Coverage included
  • Broadest trigger for Business Interruption and Data Restoration losses industrywide

 
Best of all, indications can be provided for almost all classes under 30 million in revenues or 50,000 records using our online submission portal WITHOUT having to complete an application.

No longer do you have to compromise important coverage to get to an affordable rate! Let US Pro start saving your insureds money WHILE we give them the best coverage available today!!

Online submissions. No application required for a quote. $250,000 limit choice. Full prior acts. Dramatic rate reductions. At US Pro, we are America’s Cyber Insurance Experts – find out today.

Want a way to calculate the cost of a Privacy Breach to your Insured?

Posted by on Oct 16, 2015 in Cyber Source | Comments Off on Want a way to calculate the cost of a Privacy Breach to your Insured?

US Pro’s “NEW” Breach Response Calculator

 
What if you could answer the question you are always asked?
The question we are asked more than all other questions. The question you are asked more than all other questions. No one could really answer it before, and understanding the reasons why is what led US Pro to create the industry’s first AND only Breach Response Costs Calculator.

This innovative tool is superbly easy to use and provides an estimated minimal financial impact for any kind of risk class using 3 simple questions. The Minimum Breach Response Costs figure is then immediately calculated and shown. Best of all, it is available only to US Pro customers as a free proprietary tool for increasing your sales success.

What are Minimum Breach Response Costs (BRC)?
BRC are the first party expenses incurred by an Insured as a result of a privacy compromise of third party personal confidential information in their care, custody or control. These include the following expenses:

  • Notification costs incurred to notify affected individuals of a breach of their personal information
    Legal and forensic expenses incurred to determine the cause of a breach and navigate state by state notification laws.
  • Customer support and credit monitoring services provided to affected individuals
  • Crisis Management and Public Relations expenses incurred to mitigate reputation damage or potential economic harm.

Every entity who has a privacy compromise will incur all or some form of these costs, so understanding what the minimal expense impact is for your customer is essential. The Breach Response Calculator was developed to help you determine just what that potential impact is.
 

Be An Expert, Or Use an Expert.

 
Beware of those who do not know what they do not know.

Even though comprehensive Cyber Liability Insurance has been available for about 8 years, the diversity in coverage offered from carrier to carrier, the lack of uniform policy formats or languages, the advent of new programs and carriers who lack experience or understanding, and the constantly changing nature of the exposures and challenges facing commercial Insureds.

These are the main symptoms causing the knowledge deficiency of wholesalers and retailers alike. US Pro asks the question- Are you a Cyber Liability expert? If you answer this question No, then ask yourself “Is your broker one?” The top commandment in the 10 commandments of Cyber Insurance is to “Be An Expert, or Use an Expert”. We are America’s Cyber Insurance Experts- put us to work for you today!!

Contact ksneed@usproins.com today to get your login ID and password and start crunching BRC numbers for your insured’s today!

Finally – A Way to Calculate Cyber Exposure for your Insured

Posted by on Oct 1, 2015 in Cyber Source | Comments Off on Finally – A Way to Calculate Cyber Exposure for your Insured

US Pro’s “NEW” Breach Response Calculator

 
What if you could answer the question you are always asked?
The question we are asked more than all other questions. The question you are asked more than all other questions. No one could really answer it before, and understanding the reasons why is what led US Pro to create the industry’s first AND only Breach Response Costs Calculator.

This innovative tool is superbly easy to use and provides an estimated minimal financial impact for any kind of risk class using 3 simple questions. The Minimum Breach Response Costs figure is then immediately calculated and shown. Best of all, it is available only to US Pro customers as a free proprietary tool for increasing your sales success.
 
What are Minimum Breach Response Costs (BRC)?
BRC are the first party expenses incurred by an Insured as a result of a privacy compromise of third party personal confidential information in their care, custody or control. These include the following expenses:

  • Notification costs incurred to notify affected individuals of a breach of their personal information
  • Legal and forensic expenses incurred to determine the cause of a breach and navigate state by state notification laws.
  • Customer support and credit monitoring services provided to affected individuals
  • Crisis Management and Public Relations expenses incurred to mitigate reputation damage or potential economic harm.

Every entity who has a privacy compromise will incur all or some form of these costs, so understanding what the minimal expense impact is for your customer is essential. The Breach Response Calculator was developed to help you determine just what that potential impact is.
 

Be An Expert, Or Use an Expert.

 
Beware of those who do not know what they do not know.
Even though comprehensive Cyber Liability Insurance has been available for about 8 years, the diversity in coverage offered from carrier to carrier, the lack of uniform policy formats or languages, the advent of new programs and carriers who lack experience or understanding, and the constantly changing nature of the exposures and challenges facing commercial Insureds.

These are the main symptoms causing the knowledge deficiency of wholesalers and retailers alike. US Pro asks the question – Are you a Cyber Liability expert? If you answer this question No, then ask yourself “Is your broker one?” The top commandment in the 10 commandments of Cyber Insurance is to “Be An Expert, or Use an Expert”. We are America’s Cyber Insurance Experts- put us to work for you today!!
 

Contact ksneed@usproins.com today to get your logon ID and password and start crunching BRC numbers for your insured’s today!

NO APP CYBER INDICATIONS for MOST CLASSES

Posted by on Sep 21, 2015 in Cyber Source | Comments Off on NO APP CYBER INDICATIONS for MOST CLASSES

Simply complete and click.

 
Cyber Liability Insurance. Every business needs it, but few have it. Most do not even understand it. US Pro is making this conversation a whole lot easier for you.

Get your ballpark indication for most industry classes by going to www.usproins.com and clicking on the Specialty Lines Tab, and then the Cyber Liability tab. Here you will find our new Cyber Liability Ballpark Indication Form. Simply answer the 7 questions and click the Submit button and we will send you right back the ballpark indication. No applications needed to get an “indication” anymore.

For your convenience, here is the link to that page:
http://usproins.com/specialty-lines-products/cyber-liability-insurance/

This newest part of our website is just the first of more coming enhancements that will help you become a better salesperson of Cyber Insurance, and more successful with your sales. At US Pro, we are more than just a broker. We are the Specialty Lines expert on your team.

So go ahead. Simply complete and click today!
Feel free to contact me with any questions, or a request for an agency webinar. Submissions for Cyber or D&O, EPLI, Fiduciary, Crime, Professional Liability, or Medical Professional Liability can also be sent to me directly at ksneed@Usproins.com.

We look forward to working for you today!

MANAGEMENT LIABILITY INSURANCE EXPERTS

Posted by on Sep 14, 2015 in Cyber Source | Comments Off on MANAGEMENT LIABILITY INSURANCE EXPERTS

MANAGEMENT LIABILITY INSURANCE
D&O/EPLI Experts for more than 30 years!

 
Solutions and savings.
30 years ago, D&O was becoming a household name in America as the Banking and Savings & Loan industry was in a freefall with the collapse of Lincoln Savings & Loan. The resulting domino effect forever changed the financial industry, and put a bright spotlight on the D&O Liability Insurance lines of business.

EPLI followed a few short years later in late 1988, beginning first in the nonprofit sector, and then extending into the for-profit sector in the very early 1990’s. Today, these lines of business combined with Fiduciary Liability and Crime coverage, create a Management Liability policy.

Whereas some companies and nonprofits carried this insurance 30 years ago, almost all of these entities do now. Understanding each of the industry classes and the exposures they face is the key to choosing the coverage that will be best for them.

There are a lot of carriers writing D&O and related lines, and there are some important differences in coverage amongst them. Our people have been doing D&O since the days of the S&L collapse, and our former underwriting background makes us the expert you need to get the right deal done for you.

We can do public companies, private companies, healthcare, and nonprofits for almost all classes of the following lines of business, and we can package them together in one policy, or any of them can be written on a mono-line basis:

  • D&O Liability
  • Employment Practices Liability
  • Fiduciary Liability
  • Crime

Let our superior service and knowledge go to work for you today. Simple send your submission in to ksneed@usproins.com today for immediate response.
 

CYBER LIABILITY NEWS – NO APP NEEDED FOR INDICATIONS

 
US Pro now gives YOU the ability to get ballpark premium indications without an application! Our effort to get you to offer indications on every commercial customer just got a lot easier for you. Simply enter in the information and CLICK- that’s all! One minute of your time and US Pro will send you back an indication on most industry classes right away. Ineligible classes can be quoted with an application in less than 24 hours.

We are also working on developing some great tools for our customers to use to become better Cyber salespersons. Watch for these exciting announcements to come in the future.

At US Pro, adding value and growing your business is our strength. Learn more today.

Professional Liability and D&O is What We Do!

Posted by on Sep 9, 2015 in Cyber Source | Comments Off on Professional Liability and D&O is What We Do!

FEATURED: Professional Liability
E&O for all classes of professionals.

 
Professional liability is required for most contracts in today’s business world. Understanding what is needed, and where to go and get it, is the key to staying a step ahead of the competition. Whatever the risk is, we want to see if there is a solution we can find, including:

  • Architects & Engineers or Contractors Professional Liability
  • Lawyers Professional Liability for firms of 10 or more
  • Technology Risks
  • Collection Agencies
  • Insurance Agents E&O
  • Title Agents/Abstractors
  • Real Estate Agents/Brokers
  • Mortgage Brokers/Bankers
  • Third Party Administrators
  • Publishers and Printers
  • Consultants
  • Allied Medical Professionals
  • All other Miscellaneous Professional Liability Classes too!

Check us out at ksneed@usproins.com for immediate response.

EPLI
Our long line of carriers who write this have helped us transform our EPLI background from one of the first underwriters to create it, to one of America’s most knowledgeable brokers selling it. All classes, all sizes, whatever the issue is- send it over to us to have a look today!

Have an association looking for an EPLI program for its members? Ask us to create one for you!

Crime
Having a problem with a current customer’s Crime placement? Looking for better terms on a renewal? Is the class of business giving you fits trying to get a quote? US Pro has several markets for Crime waiting to see your submissions. Let us help you solve the Crime!

Cyber Liability/Tech
As America’s Cyber Insurance Experts, we simply spend more time learning, growing and living in the Tech and Cyber insurance world. Let US Pro help you understand the terms and coverage and important exposures to protect against as your Most Valuable Partner in the growing world of Cyber Liability Insurance.

Send us your submissions for any of the above lines, or Environmental, today to ksneed@usproins.com for an immediate response.

SEPTEMBER 1’s CAN STILL BE DONE – LET US RUSH FOR YOU.

Posted by on Aug 27, 2015 in Cyber Source | Comments Off on SEPTEMBER 1’s CAN STILL BE DONE – LET US RUSH FOR YOU.

SEP 1 RUSH YOU NEED DONE?
WANT TO ADD A CYBER QUOTE TO A 9/1?

 
What’s the rush? We never ask that question at US Pro, for RUSHES are a US Pro specialty. Cyber. D&O. EPLI. Professional Liability. The line of business doesn’t matter. The size of the risk no problem. All that really matters is that the job gets done, and gets done fast! Welcome to our everyday world, but we are best on the 1’s.

So what are the 1’s? These are the expiration dates at the beginning and end of every month. Some brokers are too busy with renewals to work the 1’s, but here at US Pro we make as much time for the as we need to make.

With September 1 next week, there is still time to get it done for you. Send any D&O, E&O, EPL, Crime, or Tech account in and we will tun it into quotes. Better yet let us quote Cyber for you, the most important coverage your client can buy today!

Superior rush service. 30+ years of experience. Access to all of America’s best carriers. Agency webinars and seminars. Industry leading web site at http://www.usproins.com.

With all of this, we aren’t just the best on the 1’s, we are number one. For a far better brokerage experience, try us out today at ksneed@usproins.com and let us rush “1” out for you!

Cyber in 5 Minutes!

Posted by on Aug 24, 2015 in Cyber Source | Comments Off on Cyber in 5 Minutes!

Cyber in 5 Minutes!

 
Every commercial business, nonprofit, and government entity is at high risk of a Cyber event. Yet, less than 20% currently purchase some form of adequate Cyber Liability insurance protection. Given its prominence in the national daily news, agents who continue to fail to offer this coverage to their clients put increase their risk for an E&O claim.

Since 88% of all events occur due to unintentional employee negligence, it is simply a matter of time before one of these potential threats will come to pass. With an average window of 4 months from the time an event begins to the time the entity becomes aware of it, time is no longer on your side.

You must start quoting Cyber for every commercial business, nonprofit, or government entity your agency writes. No single risk is immune from the exposure, regardless of their size or the industry class.

Write us today to get the short form application and start making Cyber quotes an easier process for your agency. We can generate indications in our office in 5 minutes of time if required- and within the same day in most cases! Better yet, complete one of these for your entire commercial book of business and we will give you indications for each one.

Start protecting your own E&O today and request your application at ksneed@usproins.com.

Beware to the Buyer!
We mentioned that less than 20% of all commercial entities carry Cyber Insurance. A majority of those who purchase it are severely underinsured or uninsured for key expenses and coverages from any one claim.

Beware to the buyer! Be careful what coverage forms you buy, since no two carriers offer the same coverage. MOST IMPORTANT: Avoid putting Cyber coverage into a Package policy. It will almost always be coverage deficient.

Let US Pro do the Work!
Want a great way to help you explain and sell the Cyber terms to your client. Ask US Pro to be a part of the phone conversation or ask us to do an online presentation to the client. We are available to talk to your clients with you and answer the important questions they may be asking.
 

Your Own Webinar

Kevin Sneed is considered one of America’s expert speakers on Cyber. His passion for speaking on this subject affords you the opportunity of hosting your own private webinar for your clients. He will present Cyber in terms easy to understand but intense in detail.

Schedule a webinar for your agency staff today, or if you prefer, host a webinar for your customers and ask us to be the presenter. This is a 60-minute fast-paced, exciting and highly informational presentation that will leave your customers reeling. Write us today at ksneed@usproins.com to schedule one for your agency.

And remember….we specialize in creating association sponsored programs for your customer. If you have a program opportunity, let us show you what many already know- we are the go-to source or creating Specialty Lines programs.

D&O, E&O, Cyber Insurance Specialists

Posted by on Aug 24, 2015 in Cyber Source | Comments Off on D&O, E&O, Cyber Insurance Specialists

Specialty Lines is all that we do.

 
From coast to coast, retail agents across America have discovered the secret to the strength of US Pro. Specialty Lines is all that we do. D&O, Professional Liability, EPLI, Crime, Cyber Liability and Environmental are the only lines we work in, and we have been doing so for 3 decades.

Our diverse array of carriers, years of experience and incredible service has made us exclusively America’s Specialty Lines experts.

Visit us online at www.usproins.com today or send us a submission to ksneed@usproins.com for immediate action.

 

D&O LINES

At US Pro, there is no industry class we cannot do. Healthcare, financial, long term care, public, private, nonprofit and all others are eligible. Lines of business we specialize in are:

  • D&O
  • EPLI
  • Fiduciary
  • Crime

We have been doing D&O since 1985. Experience and relationships matter when getting deals done.

 

PROFESSIONAL LINES

Professional Liability, aka E&O, is available for all classes as well. It is split between Medical Professional Liability and Professional Liability. Professional Liability is split 6 ways, so a solid understanding of the many nuances of the coverage combined with our underwriting backgrounds is how we are able to identify exposures unique for any one class. Below are the various Medical and Professional E&O lines we excel in:

  • Medical Professional
  • Medical Malpractice
  • Hospital and LTC Professional
  • Managed Care E&O
  • Miscellaneous Professional
  • Accountants Professional
  • Real Estate Services E&O
  • Lawyers Professional
  • Insurance Agents/Brokers E&O
  • Architects & Engineers

 

CYBER INSURANCE

Now a household name, no other kind of commercial insurance purchased today is more important to the health and welfare of a business. At an average claim of $200,000, a single uninsured event can be crippling. Standard markets and package carriers have not employed important breach response services as a part of their coverage. Choosing the right policy is a “Do or Die” scenario. We are known as America’s Cyber Insurance Experts because of our understanding of the coverage and our unique way of teaching you how to navigate it.

All industry classes are eligible and we can build up to $20M in limits.

Featuring coverage for:

  • Network Security/Privacy Liability
  • Regulatory Liability
  • Media Liability
  • Breach Response Services
  • Crisis Management Expenses
  • Cyber Extortion
  • Cyber Terrorism
  • Loss of Electronic/Digital Assets