Frankenmuth Insurance is pleased to announce the launch of Cyber Plus starting March 1, 2014.

What makes Cyber Plus different?

The Cyber Plus Coverage Guide provides a summary of each coverage in the order they appear in the form, and it includes claims examples to illustrate how coverage is triggered.  Below is an excerpt featuring a Cyber Plus 1^st Party Coverage.

Cyber Extortion

Cyber-extortion is a crime involving an attack or the threat against a business, and it includes a demand for money to avoid or stop the attack.  This can take many forms running the gamut from a denial of service attack to encrypting the insured’s data and holding it hostage.

Cyber Extortion reimburses the insured for money paid and expenses incurred due to a cyber-extortion threat.

Claims example: Insured receives an email from an attacker threatening to shut down production machinery unless their demand for $100,000 is wired to a foreign bank.  The attacker demonstrates ability to follow through by shutting down the insured’s material handling systems for several hours. 

Next blog highlights Cyber Terrorism, it is more real than you think

Cyber Plus Booklet Final (FI) .pdf (892.67 kb)