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BCS Cyber Update 2019

Effective December 1, the following states have adopted the new Cyber policy form and enhancements: Alabama, Delaware, Georgia, Maine, Missouri, Nebraska, South Dakota, and Utah.

If you have existing open offers in these states, please go back and re-quote in order to extend these benefits to your client.

For a complete comparison to the prior form, and a list of all applicable sub-limits, please review here.
You can’t stop the unthinkable from happening, but you can help your client protect against its devastating consequences

A reactionary approach won't be enough if a crisis event happens. Business owners of any size should be aware of the ramifications they'll face following a sudden and unexpected security incident before it happens. Unfortunately, a crisis event can happen any place at any time – a place of worship, a hospital, a yoga studio, a warehouse – you name it. Your clients need to take a proactive approach to preventing a crisis and just as importantly know how to respond to and recover from one. It's their duty of care to their employees and the public.

We can help with that. Meet Gallagher Crisis Protect.

Finally, a product designed with the coverages your clients can use at a price they can afford.

PRODUCTHIGHLIGHTS

Gallagher Crisis Protect – the only policy in the marketplace that offers indemnity and response coverage with as broad a range of insured events with as extensive a range of risk management services

  • Backed by AIG
  • Online quote-bind-issue for clients with revenues less than $250M and 5 or fewer locations
    • All industries eligible with the exception of public sector and education, which will generate a referral
    • Exclusively at AJGcyber.com
  • Simple process: 3 basic underwriting questions + applicant’s information and locations
  • Fixed indemnities
    • 1st party $1M (up to 5 locations)
    • 3rd party $250K
    • consultant costs up to $1M
  • Fixed premium of $2000
  • 24/7 access to crisis consultants
  • For revenues over $250M or over 5 locations, a bespoke underwriting “Max” product is available, talk to your Product Expert for more information
Get familiar with Crisis Protect
  • Comprehensive informational website: https://gallagher.crisis-protect.info
  • Webinar with Gallagher Crisis Management experts, Paul Bassett and Dave Marcus: https://ajg.adobeconnect.com/_a815130238/p0nz4rne88q2
NEW BCS CYBER POLICY FORM!

While the changes are too numerous to list here, a few of the highlights, some of which carry sub-limits, include:

Significantly enhanced Cyber Deception/Social Engineering coverage option* with multiple limits, lower premiums and retentions
*Subject to eligibility
Lower minimum premiums:
$3M limit - was $7,500, now $1,250
$5M limit - was $12,500, now $2,500
$10M limit - was $50,000, now $5,000
An entirely new Electronic Fraud section that includes Phishing, Telephone Fraud, Services Fraud, Funds Transfer Fraud, Reward Fund Loss and more
“Bricking” coverage - replacement of computer hardware from a covered Security Compromise
Single aggregate retention in a policy period
Removal of the aggregate limit on first party coverages means limits automatically refresh with each new covered incident
*Not applicable to Cyber Deception coverage or PCI DSS Assessment
Bodily Injury and Property Damage liability resulting from a covered Privacy or Security claim
Affirmative TCPA coverage for both Damages and Claims Expenses

For a complete comparison to the prior form, and a list of all applicable sub-limits, please review here.  And, for an updated comparison of all 3 carriers, please click here.  This information can also be found on the dashboard. For greater explanation of these coverages, contact your RPS Product Expert.
Lloyd’s Miscellaneous E&O – Product Update 2019

In our continuing effort to keep the products on AJGcyber.com fresh and competitive, we are happy to reveal the following updates to the Lloyd’s Miscellaneous E&O product.

Income threshold for reduced question set (“Fast track” quoting process) increased to $1,000,000 up from $500,000
Reduced rates across all business classes
Simplified deductible calculations

Effective September 23, if you have any open quotes, please re-quote in order for your client to benefit from these updates.
*Additional product information available on the dashboard.