The new CyberFirst is available in most states in early 2017. Its enhancements will enable you to better meet your technology clients' needs. More details below and download the map to find a Sales Executive near you.
Cracking the Code to Impactful CyberFirst Conversations
Provide a look into how technology companies are vulnerable, what is at stake, and methods to help protect against hacking and data breaches.
CyberFirst now has even more flexibility and choice
These are some of the changes your technology clients can look forward to with the rollout beginning in January 2017:
- Insuring acquisitions improvement. Newly acquired organizations (other than partnerships or joint ventures) with gross revenue less than or equal to 15% of the policyholder’s gross revenue automatically qualify as a named insured. Previous threshold was 10%.
- Retentions won’t stack. If related first party incidents trigger multiple first party coverages, and more than one retention applies, the total retention won't exceed the largest applicable retention – we won't stack the retentions.
- Claim definition expansion. We'll add "a written demand to toll or waive a statute of limitations" to our claim definition.
- Contingent business interruption expansion. This new optional coverage extends to the policy holder's business interruption loss and additional expenses directly attributable to a disruption to an IT provider's or outsource provider's computer system.
- Additional security breach expense reimbursement. We will reimburse for credit and identity monitoring expenses for two years or longer, if required by a notification law, as well as for expenses for fees and costs or expenses associated with the purchase of an identity fraud insurance policy.
CyberFirst still follows a unique single policy approach; including coverage options for:
- Technology Errors & Omissions Liability
- Network and Information Security Liability
- Communications and Media Liability
- Expense Reimbursement
- Employed Legal Professional