NFP Launches DigitalShield®, a Personal Cyber Insurance Product, Across the US Market
DigitalShield protects individuals and their families with eight different types of cyber coverage
NEW YORK, June 12, 2023 /PRNewswire-PRWeb/ -- As the number of cybercrimes has skyrocketed, NFP, a leading property and casualty broker, benefits consultant, wealth manager and retirement plan advisor, today announced the launch of DigitalShield®*, a proprietary, personal cybersecurity solution, for the US market. The product provides affordable, personal cyber insurance protection for a variety of cyber vulnerabilities that individuals and their families face, including phishing scams and social engineering.
"The latest data from the FBI's 2022 Internet Crime Report illustrates that the potential total loss from cyberattacks increased from $7 billion to over $10 billion in one year," said Brett Woodward, managing director, Personal Risk, NFP. "As the sophistication of cyberattacks deepens, DigitalShield can help prevent losses to individuals and their families across all aspects of their lives that cyber incidents can disrupt."
This unique offering encompasses eight cyber/social engineering coverages — cyberattacks, ransomware, identity theft, cybercrime, smart devices and wearables, cyberbullying, reputation coverage, and cyberstalking. The cost of coverage starts at $200/year, and policies range from $100,000 to $1 million in coverage. Individuals can purchase the coverage through NFP's Digital platform in less than five minutes via the DigitalShield website.
With their latest product launch of DigitalShield, NFP will not only provide coverage for money lost due to cybercrime and social engineering scams but also provide 24/7 support to customers who want a resource to understand their cyber risks and what steps to take to stay protected. In 2022, 422 million people** had their data compromised, and data indicates that more than half (56%) don't know what steps to take in the event of a data breach.
"When people hear about cyber insurance, they often think of business coverage because personal coverage has not traditionally been available to the general public. So we developed a custom, standalone product, specifically for individuals, to respond to our clients' needs," said Mila Araujo, assistant vice president, Personal Cyber, North America, Personal Risk.
"Whether your savings and investment accounts have been compromised, your identity has been stolen, or your children are impacted by cyberbullying, DigitalShield protects your family, home and lifestyle. And it also provides 24/7 support to help with any emerging cybersecurity concerns or questions you may have."
NFP has partnered with CyberScout, an industry-leading claims management provider specializing in cybersecurity, to help DigitalShield customers through a variety of cyber scenarios. CyberScout offers cyber planning and preparedness with 24/7 customer support.
For more information on cybercrime/fraud, visit the Facts on Cybercrime infographic from DigitalShield.
*DigitalShield is available in the US (except Kansas and Kentucky) and Canada (excluding Quebec). NFP's DigitalShield policy is underwritten by certain underwriters at Lloyd's, London.
About NFP
NFP is a leading property and casualty broker, benefits consultant, wealth manager, and retirement plan advisor that provides solutions enabling client success through the expertise of over 7,400 global employees, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors, and financial institutions. NFP is the 9th best place to work for large employers in insurance, 7th largest privately-owned broker, 5th largest benefits broker by global revenue and 13th largest broker of US business (all rankings according to Business Insurance).
Visit NFP.com to discover how NFP empowers clients to meet their goals.
Media Contact
Josh Wozman, NFP, 415-318-6441, josh.wozman@nfp.com
SOURCE NFP
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