Chevy Chase, MD – Victor O. Schinnerer & Company, a leading underwriting manager, announced the launch of its Cyber Protection Package. Using Schinnerer’s online broker portal, brokers can quote a cyber policy in minutes by answering a few basic questions about their client.
“Cyberattacks are escalating in frequency and intensity and pose a growing threat to the business community, regardless of size. Small and midsize businesses are not immune to cyberattacks and often have fewer resources to manage the potential risks. We created a sophisticated cyber solution with a simplified application process and policy language. With industry leading rates and coverage, and broad eligibility guidelines, our Cyber Protection Package provides an ideal solution,” said Matt Kletzli, senior vice president and management liability practice leader for Schinnerer.
The Cyber Protection Package is designed for small to midsize businesses, but can also meet the needs of larger organizations. Coverage options include:
- Digital crime, which protects companies from deceptive electronic transfers of funds, telephone toll fraud, and cyber extortion.
- Breach liability, which protects against certain lawsuits or demands related to privacy liability, website media liability and regulatory compliance.
- Breach rectification, which is designed to help businesses get back on track following a business interruption or digital asset loss.
Policyholders will also have access to a dedicated cyber breach response team that will provide expert legal services and technical support when a data security breach is identified.
Insurance is provided by Indemnity Insurance Company of North America, rated A++ by A.M. Best and one of the ACE Group companies. The Cyber Protection Package is currently available on admitted paper in 43 states and is available on a surplus lines basis until state filings are approved. Subject to individual account underwriting, premiums may start at $750.00 with limits up to $10 million.
Schinnerer distributes its insurance programs through independent agents and brokers. Broker appointments are not typically required unless mandated by state law.
Victor O. Schinnerer & Company, Inc. is one of the largest and most experienced underwriting managers of specialty insurance programs in the world. Schinnerer now serves more than 46,000 insureds in various specialty industries through independent insurance agents and brokers. Learn more at www.schinnerer.com.