Cyber Liability is a coverage that a growing number of businesses are demanding, but it's also one that still seems to be in the developmental stage.

The trade press is loaded with reports about the cyber loss pandemic, cyber symposiums are taking place all over the world,
business and insurance executives are commenting on the growing demand for cyber coverage. Yet I've seen very little in the way of specifics as to who the 'players' are in this arena, what the pricing is like, what terms and conditions are desirable or to be avoided.

Among the carriers we represent who write cyber coverage, there's a lot of hand wringing about the eligible classes of business. The complexity of the application forms is another challenge - it took our IT vendor's computer tech nearly two hours to complete one carrier's app, with the comment that the average business owner would be unable to complete it correctly.

If you've got a market that offers a comprehensive policy, with an application that can be completed by a layman, and pricing that isn't jaw dropping, I'm sure there are many readers who'd love to hear from you.

Hi Lawrence,

I have submitted a search for Cyber Liability in Illinois using out Find It tool and found a few companies that write that program.

You can view them here.

Hi Lawrence-
Great post and important question. So how does an easy 8-question cyber app sound? Premiums starting at $500? On A+ rated Lloyds paper.
And you can do it all online. Faster. Simpler.
http://www.nasinsurance.com/nasonline

Thank you Nancy. I hope to hear from retail agencies whose contracted carriers are filling their cyber demand.

What state are you looking for? I have a GA that I work with regarding this line of business that is very good. They are located in Oregon.
Tim Morgan
TW Morgan Insurance Services

Larry,

Good morning! Todd Pollock here from tKg. John Grise in our office if a cyber guru and has many available markets. He can be reached at 508-229-4705 or [email protected].

Regards,

Todd.

CNA has a good Cyber product

Hello Lawrence, I've been exploring this arena as well, and found a solid resource from Risk Placement Services (AJG)
Ross Evans National Sales Executive Office: 410 901 0733 Ross will be able to help you. Rex Williams

Philadelphia Insurance Companies has one of the strongest forms in the industry. Cyber is very different amoung carrier, there is no standard. Look for carriers that are admitted and that offer first and third party coverage. Here is a link to their product: https://www.phly.com/products/CyberSecurity.aspx you will also find claims scenarios and a great video to help you understand the coverage. They have shorter app for companies that are less than 10mill in revenue. Protect your E & O and offer the best!!

Check out Betterly Reports for great information

Cyber liability has become my favorite topic, there are opportunities there but it has not been an easy sell. Agents I work with understand the exposure and educate their clients but as an industry we have are not delivering the product the proper way. We should start with re-naming Cyber liability into something else. When client hears "cyber" it just sounds so far away and they do not think it applies to them.

There are many carriers offering cyber in all kinds of forms and you just have to learn the difference.
We have ACE, AIG, Torus, CNA, Lloyds etc

I am very interested in agents' feedback on how this product is delivered to a client. What works, what does not, what is the best way of selling it?

Call or email 801-216-8254 [email protected]

We have access to USLI's Cyber Liability and Data Security+ program. If is very inclusive. For details, please see their product summary: http://www.thehelpfulpeople.com/documents2/cyber-liability/1468-product-summary-cyber-liability

For more information, or go get a quote, please give us a call at 8000-869-2022 or check our website at http://www.thehelpfulpeople.com/cyber-liability

Bill Korfker
Grand General Agency

Larry,

Here at A. J. Wayne we custom craft Cyber Liability programs for our retail agents. Recently we were able to provide a cyber package to a Large municipal pool with over 700 members, first and third party with $100k in limits, for $200 per member with no application required!

On top of that we provided $900k in limits over the first $100K, making it a Full Million in Coverage, with a simple 8 question application!

I specialize in Cyber Liability and Tech E&O, and require no contract to place business through us.

Feel Free to Use me as a Resource.

Respectfully,

Jason A Quaglia

773. 328. 1254