In 2014, Frankenmuth Insurance launched Cyber Plus, a comprehensive product that provides coverage for data breach losses. One of the first of its kind in the industry, Cyber Plus featured eight “must-have” coverages and was developed to go beyond traditional property and commercial general liability policies.
In two years’ time, data breaches as a result of identity theft, employee carelessness and hacking have continued to rise, becoming increasingly burdensome to both small and large business owners. In an effort to continue providing the broadest cyber liability and data protection coverage in the market, Frankenmuth Insurance is excited to announce that effective March 1 on all new and renewal policies, “Cyber Plus” becomes “Cyber and Information Protection Plus.” This new and improved product features all the protection of the original plus five additional coverages to bring peace of mind to business owners.
In addition to 13 coverages, Cyber and Information Protection Plus provides your customers the resources they need to avoid potential data breaches, including:
- 24/7 access to Online Compliance Materials for both Federal and State levels
- Training programs
- Step-by-step risk avoidance procedures
In the unfortunate event that a data breach occurs, time is of the essence, which is why we also provide information about the actions business owners need to take once it happens.
When you talk to your customers, remember that data breaches don’t just impact large corporations – business owners of all sizes are affected every day. Current and potential commercial lines’ customers may be unaware of the potential risks as well as the gap in coverage from traditional commercial policies.
Click here to download a sell sheet that describes the changes we’ve made to the Cyber product as well as some tips on how to talk to your customers about this important coverage. If you have any questions or would like more information, feel free to contact your Field Manager or Underwriter.
