Ideal Accounts and Appetite
The program targets organizations that collect, store, or process sensitive customer, patient, or employee information and rely on computer networks or cloud services. Cochrane & Company specifically looks for accounts where a data breach or ransomware event would create significant business interruption, regulatory scrutiny, or third-party liability.
Target classes include:
- Healthcare providers and clinics
- Law firms
- Higher education institutions
- Retailers and wholesalers
- Hospitality and service businesses
- Artisan contractors and engineers
- Public and private enterprises
- Not-for-profits
If your client stores personally identifiable information (PII), processes credit card payments, or operates an e-commerce platform, this program is worth considering.
Coverage Highlights and Advantages
Cochrane & Company’s Cyber Liability and Data Security Risk Management Insurance offers flexible, focused coverage to help manage common cyber exposures. Key features include:
- Data breach and security breach liability – Third-party defense and liability for unauthorized access to or loss of private data.
- First-party breach response – Costs for breach notification, credit monitoring, public relations, and breach coaching.
- Regulatory defense and fines – Legal defense and, where insurable, penalties arising from data privacy investigations and industry compliance failures (for example, PCI-related matters).
- Website and media liability – Coverage for online content exposures such as defamation or copyright infringement.
- Cyber extortion and business interruption – Response and mitigation for ransomware and related incidents, including limited business interruption coverage where available.
- Identity theft resolution – Access to fraud resolution services for affected individuals.
The program is designed to protect both the balance sheet and reputation of insureds after a cyber incident.
Underwriting Notes and Minimum Premiums
Minimum premiums vary by class, revenue, limits requested, and the insured’s security posture. Cochrane & Company works with multiple carriers to match risk profiles to appropriate terms and strives for responsive underwriting decisions on accounts that fit appetite.
Strong submissions typically include:
- a completed cyber application;
- a summary of data types collected and where data is stored (on-premises vs. cloud);
- details on IT/security controls (firewalls, MFA, backups, encryption, vendor security);
- any previous cyber incidents and response steps taken.
For accounts with weaker controls, underwriters will evaluate risk mitigation options and may offer terms or recommendations to improve insurability.
Territories and Availability
This program is available in AK, AZ, CA, ID, MT, NV, NM, ND, OR, UT, WA, and WY. Agents placing business in these states can access Cochrane & Company’s cyber solutions for a wide range of small and mid-market clients.
Why Work With Cochrane & Company
As a Managing General Agency with deep wholesale market relationships, Cochrane & Company provides underwriting expertise and market access for specialty cyber placements. The team emphasizes practical, real-world coverage options and works with agents to tailor limits and endorsements to an insured’s exposures.
Example scenarios where this program fits well:
- You have a small medical clinic using an electronic health record (EHR) system with limited in-house IT support—this program can provide breach response and regulatory defense tailored to healthcare exposures.
- You represent a regional retailer that processes card payments and runs an e-commerce site—coverage can include PCI-related defense, breach notification, and incident response costs.
If you need placement support, Cochrane & Company offers underwriting consultation and can help identify carriers and terms that match the account’s risk profile.
Frequently Asked Questions
What types of accounts are a good fit for this program?
This program is ideal for small to mid-sized businesses that handle sensitive personal or financial data, including healthcare providers, law firms, retailers, and educational institutions.
Is this program available in all states?
No. Currently the program is available in AK, AZ, CA, ID, MT, NV, NM, ND, OR, UT, WA, and WY.
What coverages are included in the cyber liability program?
Key coverages include data breach liability, regulatory defense, cyber extortion expense, identity theft services, and website/media liability.
What is the minimum premium for this program?
Minimum premiums vary by account based on industry, revenue, limits, and controls. Contact underwriting for a tailored quote.
What information is required to submit a risk?
Submissions should include a completed cyber application, a description of data usage and storage, and documentation of IT or cybersecurity controls in place.
Need help placing an account? Connect with a market specialist.