Every commercial business, nonprofit, and government entity is at high risk of a Cyber event. Yet, less than 20% currently purchase some form of insurance protection. Given its prominence in the national daily news, agents who continue to fail to offer this coverage to their clients put themselves increasingly at 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 firstname.lastname@example.org.
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.