Have you offered a Coalition cyber liability quote to every commercial client yet?
Businesses are facing more than just data breach claims. In 2018, over 20% of complaints involved fraudulent instruction, social engineering and extortion, according to the FBI's Internet Crime Complaint Center, while only 1% involved corporate data breach complaints.
Of the total losses reported, fraudulent instruction, social engineering and extortion accounted for 18.5%—$1.4 billion—of losses, while corporate data breaches made up only 1.6%—$118 million.
Any business using electronic devices, a computer or the internet is susceptible to ransomware attacks and fraudulent instruction threats. Businesses with an online presence through a website or social media can also be subject to multimedia wrongful acts claims.
To offer your commercial clients a comprehensive cyber liability policy that includes coverage for ransomware, extortion, fraudulent instruction and multimedia wrongful acts, visit Big "I" Markets. Review our one-pager for claims examples to discuss with your clients.
Prevention is an essential component of protection. In addition to offering a comprehensive policy, Coalition provides free cybersecurity tools to make policyholders less vulnerable to cyberattacks. If a policyholder suffers a cyberattack, Coalition's in-house mitigation team is available to immediately respond. This same team is available to help policyholders implement security and loss controls before an incident occurs, all at no additional cost.
Coalition's competitive premiums, comprehensive coverage, free cybersecurity tools and free mitigation services are unparalleled. Admitted coverage is currently available in AL, AR, AZ, CA, CO, CT, DC, DE, HI, IA, ID, IL, IN, MD, MI, MN, MO, MS, NC, NE, NH, NJ, NM, NV, NY, OK, OR, PA, RI, SC, SD, TN, TX, UT, WA, WI and WV. Non-admitted coverage is available in all states and Washington, D.C.
Log in to Big "I" Markets to offer your commercial clients more than just data breach coverage. Reach out to Carla McGee, your dedicated cyber liability program manager, at 800-221-7917, ext. 5495 if you have any questions or to walk through a quote.