US-based Socius Insurance Services has introduced a new cyber policy, which is designed to protect small to medium sized businesses against the growing risk of cyber attacks and evolving privacy regulations.
The new Empower Program offers broad coverage, including data breach expense, network security, privacy liability, regulatory fine and penalties, network extortion, media liability, PCI fines and penalties, and business interruption and data recovery.
Socius Insurance Services programs director Kevin Miller said: "Many of the cyber products available today are geared toward large technology and other multinational companies.
"This product has been specifically designed to meet the needs of smaller, traditional main street businesses that still face the same risk from data breaches and an increasing regulatory environment."
In May this year, the insurer announced the merger of Paul Lefcourt and Ryan Apgar teams to provide a broader level of expertise as well as enhanced service to their valued clients.
Based in San Francisco, Socius Insurance Services is a property and casualty and management liability wholesale broker, which has regional offices in Los Angeles, Elgin, Birmingham, Tampa and Miami.
Established in 1997, the insurance wholesaler specializes in D&O, E&O, EPL, property & casualty and umbrella coverages.
Image: Socius Insurance Services has launched new cyber policy to protect small to medium sized businesses. Photo: courtesy of Stuart Miles/ FreeDigitalPhotos.net.