Cyber Insurance
What to Look for in a Cyber Insurance Policy
Cyber coverage varies widely between insurers — there is no “standard” policy form. Knowing what to look for is key to finding the right protection.
Key Coverage Elements:
First-Party Costs
Reimbursement for expenses directly related to responding to a breach — such as IT forensic investigation, data restoration, breach notification, credit monitoring, public relations, and even cyber extortion or ransom payments.
Business Interruption
Reimbursement for lost profits and additional expenses incurred to keep your business operating after a breach.
Third-Party Claims
Protection against lawsuits, investigations, defense costs, and fines stemming from a failure to protect sensitive data.
Social Engineering
Coverage for financial losses and liabilities caused by social engineering attacks such as phishing, spoofing, and cyber fraud.
NEED CYBER?
Complete and return this APPLICATION to members@iiav.com to receive a cyber insurance quote for your business.
Who we Work with
IIAV with VFSC works to bring you high-quality Cyber Insurance through the following vendors.
Virginia Financial Service Corporation Provides:
- Local support from an experienced insurance team
- Successfully serving Virginia insurance agents for over 50 years
- Exclusive Carrier Relationships
- Multiple E&O Carrier Options (Admitted and Non-Admitted)
- Risk Management & Additional Services
Beazley
Beazley offers a slot-rated Data Breach Program with comprehensive coverage, multiple limit options, and affordable rates.
Beazley Breach Response (BBR) is an industry-leading solution for managing data privacy and security risks. It provides the tools, expertise, and support your agency needs to respond quickly and effectively to a data breach.
Up to 50% off premium
Coverage for security and privacy liabilityAgencies with over $10M in revenue, over 50% benefits business, or prior losses require underwriting.
Coalition
Offers members access to leading cyber and technology E&O insurance solutions.
Coalition is a technology-driven provider helping businesses prevent, respond to, and recover from cyber incidents. During the online quote process, your systems are automatically assessed for vulnerabilities, and once coverage is bound, Coalition provides ongoing threat monitoring and alerts tailored to your technology environment.
All policies include access to a dedicated claims and cybersecurity team, real-time risk intelligence, and proactive protection tools.
CYBER INSURANCE FOR CONSUMERS
With the addition of Coalition, Big “I” Markets now has a complete range of admitted and non-admitted cyber insurance offerings, from automatic-issue, admitted policies for small business to the most complex risks in the surplus lines arena.
To access Coalition, log in to www.bigimarkets.com and select “Cyber Insurance-Coalition.”
Become A Member.
What We Cover
We want to support your Agency at every step by providing a variety of insurance coverage for your business.
Commercial Umbrella
Employment Benefits
Group Dental Insurance
Group Term Life Insurance
Group Medical Insurance
Group Long Term Disability
Group Short-Term Disability
Errors & Omissions
Cyber Insurance
Employment Practices Liability
