Insurance Agents and Brokers Professional Liability and Network Security and Privacy Policy
US PRO INSURANCE SERVICES is one of the leading experts in the placement of Cyber Liability Insurance for all industry classes all over America. Today, we wanted to feature an exciting program for Insurance Agencies, etc. who are eligible which combines both E&O and Cyber exposures together to eliminate gaps in coverage which can occur.
The coverage, which is broader in scope and competes with Westport and other major carriers, is written on a non-admitted basis and its highlights include the following:
ELIGIBLE RISKS
Firms with annual GWP of $15M or greater
- Specialist Retailers
- MGAs/MGUs
- Program Administrators
- Wholesale Agents and Brokers
- Complex and/or Hybrid Organizations
- Agents and Brokers with prior loss experience
AVAILABLE LIMITS
Up to $10M
JURISDICTIONS
Available in all 50 states on a surplus lines basis
FINANCIAL STRENGTH
Coverage backed by Carrier rated “A”
(Excellent) by A.M. Best (as of May, 2012)
HIGHLIGHTS OF THE PROGRAM INCLUDE:
Broad Professional Liability Coverage:
- Insurance Agents Errors and Omissions (E&O) Liability
- Broad definition of Insured and Professional Services (including Employed Lawyers)
- No insolvency exclusion
- Defense coverage outside the limit of liability
- Coverage for entities with diverse operations such as claim administration, TPA and premium finance services
- Punitive or exemplary damages, where insurable by law
- Supplemental payments for Disciplinary Proceedings, Governmental Proceedings and “Time-Off-Work” expenses
- Network Security and Privacy Liability including Regulatory Claims coverage
- Advertising and Communications (Media) Liability with broad definition of Covered Content
- Not-for-Profit Directors and Officers Liability
- – Coverage extended to individual directors and officers serving as a director or officer of a not-for-profit organization
- Side A Excess Directors and Officers Liability for Network Security and Privacy Wrongful Acts
First Party Data Compromise Expenses Reimbursement:
- Breach Consultation Services
- – Consultative services regarding breach notification requirements, including the review of state specific notification letters
- Breach Notification Expenses
- – Costs for printing, postage or posting of print or electronic notification letters
- – Forensic services to identify individuals impacted by a Breach Event
- – Credit monitoring services, credit-related remediation services and identity theft financial recovery services for customers or clients impacted by a Breach Event
- Public Relations Expenses
- – Public Relations Expenses for services provided by an independent public relations company to mitigate material damage to a firm or agency’s reputation as a result of a Breach Event or Privacy Wrongful Act
- Electronic Data Restoration Expenses
- – Costs for the restoration of, or to regain access to, Electronic Data that was impacted by a Network Data Event
- Data Extortion Expenses
- Payment Card Industry Data Security Standards (PCI-DSS) Expenses
- – Monetary fines or penalties due to non-compliance with published Payment Card Industry Data Security Standards
If your agency is eligible, or if you have customers who are, send them over to us today for immediate service. At US Pro, we are America’s Cyber Insurance Experts!
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