If your association does not yet have a cyber insurance program for association members in place, now is an opportune time to add one to your association’s members benefits.
Offering a cyber insurance program to your association’s members makes good sense, especially when responding to a cyber or data security incident can be very expensive.
Every association and its members are at risk of falling prey to a cyber attack and/or a data breach. When an incident occurs, this often results in costly incident response expenses which could financially impact both an association and an association’s members.
Indeed, with the right cyber insurance coverages in place, your association’s members can operate their businesses and organizations much more soundly knowing that they’re protected in the event a cyber or data security incident occurs.
When exploring a cyber insurance program for your associations members, below are some questions to consider before making your program selection:
- What limits are available?
- What policy deductibles are available?
- What is the rating of the insurance carrier?
- What makes this policy different from all the others?
- Are there any unique coverages or enhancements being offered in the policy?
- Is your association eligible for a premium discount?
- Does the policy provide an incident response team to help members with their incident?
- Are there any complimentary tools provided by the insurance carrier?
- How will members obtain their cyber insurance quotes?
- Does the program provide an easy enrollment process so that members can select their desired coverage limits and policy deductible and then purchase coverage?
- Does the program offer support to members that may have questions before purchasing cyber insurance coverage?
- Does the policy offer coverage for expenses related to a forensics investigation, regulatory fines, third-party damages, cyber crime, notification costs or phishing?
Once you have a clear understanding of what your members need in their cyber insurance program, it’s highly recommended that your association work with an experienced cyber insurance broker who has the expertise to help your association select the policy that’s best suited for your association’s members.
Thereafter, once you have selected and are ready to introduce your association’s cyber insurance program to its members, you will want the support of your cyber insurance broker to assist its members with any questions they may have during the enrollment process.
In today’s technology driven environment, offering your members the ability to begin the cyber insurance enrollment process online with the option to call an agent for a personal consultation to review coverage details would be a valuable benefit addition to your association’s offerings.
Our Unique Technology Driven Process
With our cyber insurance program, members can complete their cyber insurance quote online and their cyber insurance quote will be sent directly to their email. Your association member will then be able to enroll and purchase coverage after completing the simple application process.
When a Security Lapse Happens, Cyber Insurance Makes a Difference
Today it goes without saying that every association and its members have a duty to protect all of its sensitive or confidential information, and in the event of a security lapse, having cyber insurance coverage in place can help make all the difference.
Our experienced Cyber Insurance Brokers can establish your cyber insurance program and help support your association’s members with their enrollment process
Cyber Data Risk Managers can assist your association with selecting a cyber insurance program for its members and will be there to support your members from the beginning and all the way through to the policy support phase. We have several cyber insurance programs that associations can choose from and welcome you to reach out to us for assistance with implementing your association’s members cyber insurance program.
Let’s get started on providing your association members the cyber insurance coverages they crucially need.
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