On 2/18/2014, Cyber Plus coverage will be available in iBIS for accounts effective 3/1/2014 or later.
How will this new feature work?
Requesting Cyber Plus coverage will occur in iBIS on the BOP Optional Coverage Screen or the CPP General Liability Coverage Screen. The base aggregate limit will be $50,000 for all states except New Hampshire which will be $100,000. Higher limits will be available up to $1,000,000 if desired. Given the industry focus on the importance of this coverage, you will also notice Cyber Plus as a recommended coverage on many accounts you may quote in iBIS.
A requirement for Cyber Plus is a signed application prior to issuance if the following conditions exist:
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Aggregate limit greater than $100,000 is selected
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Greater than $50,000,000 in revenue is entered
A new option called Cyber Plus e-Resources is also available under the Tools Tab in iBIS. This new feature provides additional tips and information related to cyber coverage. The Cyber Plus e-Resources option will also be available in Policyholder Services for Insureds with Cyber Plus coverage.
An important item to note, accounts with Cyber Plus cannot be issued until the calendar date of 3/1/2014. Please keep this in mind as you quote this coverage between now and 3/1/2014.
For any coverage questions related to Cyber, please contact your Underwriter or Field Manager. For any iBIS entry questions, please contact eBusiness Support at 1-800-234-1133 extension 3000 or send us an email at agencyservices@fmins.com.
