Cyber Liability

As organizations across all industries grow more and more reliant on technology, cyber liability insurance has become increasingly important. Convelo partners with wholesale carriers specializing in cyber liability insurance to ensure your clients have access to the types of coverage most relevant to their lines of work.

Corvus

Corvus is at the leading edge of cyber liability insurance, using high-tech tools to quantify risk and deliver optimal coverage with competitive pricing. It’s also one of the shortest applications in the industry, returning a quote within minutes for most accounts.

Our Corvus Smart Cyber offerings provide broad coverage on admitted paper, with enhanced coverage options for both third-party liability and first-party loss.

First party loss coverages include:

  • Business Interruption
  • Contingent Business Interruption
  • Digital Asset Destruction, Data Retrieval and System Restoration
  • System Failure Coverage
  • Social Engineering & Cyber Crime Coverage
  • Reputational Loss Coverage
  • Cyber Extortion and Ransomware Coverage
  • Breach Response and Remediation Expenses
  • Court Attendance Costs

Third party liability coverages include:

  • Network Security and Privacy Claims
  • Regulatory Investigations, Fines and Penalties
  • Media Liability Claims
  • PCI DSS Assessment Expenses
  • Breach Management Expenses

Appetite

Convelo can write cyber liability policies with Corvus in all states for the following classes, among others:

  • Healthcare
  • Retail
  • Financial institutions
  • Education
  • Human services
  • Professional services
  • Life sciences
  • Manufacturing
  • Nonprofit organizations
  • Construction

Carrier Benefits

Corvus’s expertise in cyber liability really shines in their loss prevention tools. Every policy comes with a Dynamic Loss Prevention Report, an easy-to-read IT security assessment with prioritized recommendations for fixing key vulnerabilities. Clients also get ongoing monitoring for cyber threats, training resources and access to a dedicated breach response team.

Coalition

Coalition offers some of the broadest range of coverage available in cyber liability insurance, combined with some of the most affordable rates.

First party loss coverages include:

  • Bodily injury and property damage
  • Pollution
  • Computer replacement
  • Fund transfer fraud
  • Service fraud
  • Digital asset restoration
  • Cyber extortion
  • Business interruption and extra expenses
  • Breach response
  • Crisis management and public relations

Third party liability coverages include:

  • Network and information security
  • Regulatory defense and penalties
  • Multimedia content
  • PCI fines and assessments
  • Bodily injury and property damage
  • Technology errors and omissions

Appetite

Convelo can write cyber liability policies with Coalition in all states. They have a broad appetite, including nonprofits and human services organizations.

Carrier Benefits

Coalition adds value with loss prevention and incident management tools focused on active risk assessment, protection and response. Policyholders get 24/7 cyber security monitoring to alert them of vulnerabilities in their own systems and those of third-party vendors. On-demand security support is available from Coalition’s Security and Incident Response Team to help clients recover from network intrusions, ransomware and business interruptions. Plus, they get access to free and discounted security tools and training for improved awareness and prevention.