Lockton Affinity is now the administrator for CyberLock Defense, a market leading standalone cyber liability policy with options for over 40 industry groups including retail, industrial and manufacturing, financial services, restaurants and more.
Image: Lockton Affinity now administrator of CyberLock Defense. Photo: Courtesy of vishnu vijayan/Pixabay.
“Cybercrime is the number one emerging insurance risk to most organizations,” says Jeff Severino, practice leader for CyberLock Defense. “Although business owners often see this as a threat only faced by big business, we are now seeing statistics that show over 50 percent of small and medium-sized businesses have experienced cyberattacks or breaches in the past year. We developed CyberLock Defense to protect businesses of all sizes with superior admitted coverage and an easy quoting and binding process.”
Key benefits of the CyberLock Defense insurance program include:
Broad first and third party coverage options to address cyber extortion, breach of data privacy, contractual liability, copyright infringement and rogue employees
No sublimits of coverage
Combined single limits of liability available for all coverage, including cyber theft, social engineering loss, ransomware and more
Automatic business interruption expense and reputational harm coverage
Policy limit options from $100,000 to $10 million
Quick and simple quoting and binding processes
Admitted, non-admitted, and excess policies available
Source: Company Press Release