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Cyber Liability Protection for Insurance Agents – IBDPro – Insurance by Design

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(866) 840-8004

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Example Scenarios

Why Insurance Agents

Need Cyber Coverage:

1. Hacked Emails ($100K) Scenario: Your email account is compromised and then sends malware to your contacts. Up to $100K Third-Party Liability coverage applies.

2. Ransomware ($10K)Scenario: Ransomware locks your files until the ransom is paid. This essential coverage helps with costs and file recovery.

3. Payment Data Breach ($100K)Scenario: An attacker duplicates your website’s payment page and your client pays their premium on the hacked page. Get coverage for investigation, notification, and damages.

4. Lost/Stolen Device ($100K)Scenario: Did you know that if your laptop/phone with client data is stolen, you could be required by law to notify clients, provide credit monitoring, and you could face fines ($500–$5,000 per record)? This coverage pays for notification and legal costs.

5. Wire Fraud ($10K) Scenario: A hacker impersonates a trusted vendor and sends a fraudulent invoice. Your office sends payment, thinking the invoice is legitimate. This coverage helps recover the funds and protects against financial loss.

 

Coverage Highlights:

  

• $100,000 Cyber / Technology Security Coverage

• $100,000 Aggregate for Privacy Fines or Penalties

 

Company Direct Expenses Insuring Clauses:

• $25,000 for Costs of Notification

• $25,000 for Crisis Costs

• $25,000 for Cyber Breach Forensic Expenses

• $10,000 for Extortion Expenses

• $10,000 for Technology Fraud Theft Loss

$100K Cyber is available only with primary E&O. Stand–alone Cyber ($500K limits) is available; minimum premiums start at $600–$700. Shop your Insurance Agent Insurance with IBDPro today.

Cyber Liability coverage is underwritten by Scottsdale Indemnity Company and offered as an optional coverage to enhance your PL/GL policy. Coverage is subject to all applicable terms, conditions, and exclusions.