This coverage is rarely seen in the market. Some companies say they include ‘cyber liability,’ but only give coverage for work that they do for others (3rd party coverage). At Stuckey, we can give both 1st and 3rd party coverage for networks and sensitive data to small firms, who don't typically have access to this type of coverage at an affordable price.
Lake St. Louis, MO (Vocus) March 9, 2009
The ways in which companies link and share information and technology may be complex, but with Network Operations Security Coverage from Stuckey & Company, it is easier than ever for small and mid-size business to protect themselves from lawsuits related to network breaches. The Managing General Agent of niche insurance programs is offering a free webinar to commercial lines insurance agents at 1:00pm CST on March 13 to discuss the importance of this specialized liability insurance. Insurance agents can register for the webinar on Friday, March 13, 2009 at 1:00 CST at http://www.stuckey.com.
Many companies today use a network operating system (NOS) or a network operations center (NOC) to link and support workstations, personal computers, and terminals. These systems control an enormous amount of valuable private customer information, as well as file and database sharing throughout the network. A great deal of time and money is spent protecting and securing these systems from wrongful release of information, “pharming” and other network threats, but no system is completely fool-proof. In fact, according to the 2009 Annual Report from Javelin Strategy & Research, there were 22% more victims of identity fraud in 2008 than in the previous year, and a vast majority of the 9.9 million victims had their personal information compromised by electronic breaches of security.
Network Operations Security Coverage from Stuckey & Co. offers liability insurance for damages arising from a NOS or NOC security failure. It protects companies from the significant financial losses that can arise from damage to software or data, business interruption and denial of service attacks. It also gives coverage for failure to prevent unauthorized access to or unauthorized use of the insured’s computer system that results in theft, alteration or destruction of data, hacker attacks against third parties, breach of privacy, denial of access and the failure to prevent the transmission of malicious code.
According to Maggie Hammett, Senior Technology Underwriter at Stuckey & Company, “This coverage is rarely seen in the market. Some companies say they include ‘cyber liability,’ but only give coverage for work that they do for others (3rd party coverage). At Stuckey, we can give both 1st and 3rd party coverage for networks and sensitive data to small firms, who don't typically have access to this type of coverage at an affordable price.”
Stuckey & Company has taken a proactive approach in developing a technology-focused insurance program. The new program gives rating credits for risk characteristics such as number of years in business, experience and accreditation of key professionals, quality of written contracts, and internal audit procedures. Credits up to 50% are available depending on the state. Professional services endorsements are available for management consulting, telecommunications and IT staffing.
Stuckey’s Tek Division is focused on small to mid-sized technology accounts and offers low minimum premiums starting at $1,000 for a $1,000,000 limit. New rating factors for individual risk characteristics are also available. Visit http://www.stuckey.com/products/tek for business insurance quotes and a complete list of eligibility.
About Stuckey & Company:
Stuckey & Company is a specialty insurance provider based in Lake St. Louis, Missouri. For 18 years, Stuckey has offered commercial, professional and personal lines of insurance. Stuckey & Company’s network of more than 8,000 licensed agents has the knowledge and experience in dealing with specific coverage not typically covered under standard policies. As one of the fastest-growing specialty insurance providers in the U.S., Stuckey & Company offers E&O coverage to over 150 classes in sectors that include consulting, accounting and financial services, government services, media, laboratories and education. Coverage limits are available for many risks up to $5 million. It also offers a variety of standard policies. Additional information about insurance plans from Stuckey & Company is available at online at http://www.stuckey.com, by email (dwight (at) stuckey (dot) com), or by calling 1-800-828-3452. To request information by mail, write to Stuckey & Company, 28 Hawk Ridge Circle, Suite 200, Lake St. Louis, MO 63367.