Let’s chat to see if a cyber liability insurance policy makes sense for your organization as a risk management tool against the financial costs following a data breach. If not, we’ll readily tell you “No,” you don’t need the coverage.
Many of our clients found an initial conversation on the phone or a face-to-face with us is the most beneficial way to gain an understanding of this new, yet complicated insurance coverage.
Step 2: Get an Estimate
If you’d like to move forward and consider utilizing a cyber liability insurance policy, then you need to do a little homework: We’ll have you complete a brief, two-page application to learn a little more about your organization and the safeguards you currently have in place.
Step 3: We Approach the Insurance Marketplace
After you complete and return the one-page application to us, we’ll approach multiple reputable insurance carriers who specialize in this field on your behalf to obtain an “indication” (insurance-speak for “estimate”) of costs.
Step 4: Proposal—Let’s Talk Numbers
We’ll discuss the initial indication (estimate) for cyber liability insurance with you in layman’s terms, easy-to-understand language and no technical mumbo-jumbo detailing the various limits, coverage nuances, and costs of each policy option.
Step 5: Final Application, Payment, and Coverage
If you choose to move forward and purchase a cyber liability insurance policy, there’s a little more homework to do. We’ll ask you to complete a longer application required by underwriters to put the policy in force. Once it’s completed and submitted to our offices with a check for the premium, the policy can be “bound” (insurance-speak meaning the policy is in force and you’re covered).