As the cyber liability coverage continues to evolve, we are proud to be the exclusive partner of RLI Insurance in providing this important coverage to public entities.
Woodbridge, NJ (PRWEB) September 23, 2011
NIP Specialty is excited to announce that we have been appointed as the exclusive provider of Public Entity Cyber Liability coverage with RLI Insurance Company, an experienced A rated carrier.
Although many companies do not believe they need to be concerned about cyber liability, the reality is that any entity that houses or exchanges electronic data, any company with a website, and any organization that conducts business online is subject to the devastation that comes from cyber crime.
According to recent studies, cybercriminals are now going toward the low-hanging fruit, rather than large-scale, difficult attacks, and are finding success using relatively unsophisticated methods to penetrate organizations.
“To put this into perspective, organizations, on average, fall victim to 1.4 successful cyber attacks per week -- and roughly 80 percent of all companies will experience at least one data-related violation each year,” said Dean Mortilla, President of NIP Specialty Brokerage. “As the cyber liability coverage continues to evolve, we are proud to be the exclusive partner of RLI Insurance in providing this important coverage to public entities.”
Small to midsized companies are now being especially targeted, due to their vulnerability and lack of strong security systems. Given this rapidly shifting threat environment, it is critical that all companies, big and small, carry this valuable and important coverage.
“RLI and NIP Group look forward to an exclusive partnership to develop a comprehensive cyber liability product for the public entity sector,” said Brian Flynn, Vice President, Professional and Cyber Liability Executive Products Group, RLI Insurance Company.
We at NIP Specialty welcome the opportunity to discuss a risk with you. Tap into our expertise and wide market access for the best quotes and the most comprehensive service.
NIP Specialty Brokerage is focused on, but not limited to, the following industries: Retail, Publishing, Financial Services, Healthcare, and Technology.
For more information on NIP Specialty, call 1-800-446-7647, ext. 515. To submit business, you may email NIPSpecialty(at)NIPGroup(dot)com, or fax to 732-634-2904.
About NIP Specialty Brokerage
NIP Specialty Brokerage is a wholesale brokerage operation targeting non-standard commercial risks underwritten by admitted and non-admitted specialty carriers. NIP Specialty Brokerage assists agents/brokers in the structure and placement of complex insurance risks throughout the United States by accessing NIP’s brokerage expertise and relationships with global insurance markets. NIP Group, Inc. is a specialty insurance intermediary, ranked among the largest 100 in the United States and providing a wide range of brokerage, underwriting and risk management services to select market segments.
About RLI Insurance Company
RLI, a specialty insurance company, offers a diversified portfolio of property and casualty coverages and surety bonds serving niche or underserved markets. RLI operates in all 50 states from office locations across the country. RLI’s insurance subsidiaries – RLI Insurance Company, Mt. Hawley Insurance Company and RLI Indemnity Company – are rated A+ “Superior” by A.M. Best Company and A+ “Strong” by Standard & Poor’s. RLI is recognized as one of the insurance industry’s top performing companies by the Ward’s 50® Top P&C Performers and has been a member of the group for 20 straight years since its inception in 1991.