Cyber crimes are the fastest growing crimes in the world. The cyber attacks are up 17 times since 2009 and this is primarily because only 1 in 20,000 cyber thieves get caught. Independent insurance agents collect and store numerous types of private information on their clients. This information can range from driver license numbers to corporate trade secrets. As the agents collect this information they are required by law to protect it from the public and to keep it secure. It does not matter if they keep this information on their computer system or another 3rd party system, if they collected it - they are responsible for the breach notification.
Data Breach Coverage is now available exclusively to Big "I" Maryland members. The Beazley Breach Response® policy was created & tailored to the needs of independent agents. Coverage is provided on a Non-Admitted basis through Beazley syndicates at Lloyds with premiums as low as $250.00*
As a Beazley Breach Response® policyholder, you will have access to their Data Security Risk Management website, which provides risk management policies, procedures, training and other tools to help prevent a breach of confidential data.