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Lockton Affinity to Administer New Standalone Cyber Liability Product.

Lockton Affinity to Administer New Standalone Cyber Liability Product

Lockton Affinity has been appointed as the program administrator for the new CyberLock Defense standalone cyber liability policy with options for more than 40 industry groups including retail, industrial & manufacturing, financial services, restaurants, and more.

Key benefits of the CyberLock Defense Insurance program include:

* Broad first and third party coverage options to address cyber extortion, breach of data privacy, contractual liability, copyright infringement and rogue employees

* No sublimits of coverage

* Combined single limits of liability available for all coverage, including cyber theft, social engineering loss, ransomware and more

* Automatic business interruption expense and reputational harm coverage

* Policy limit options from $100,000 to $10M

* Quick and simple quoting and binding processes

* Admitted, non-admitted, & excess policies available

Coverage is available from an A rated carrier by AM Best.

Lockton Affinity, an affiliate of Lockton Companies, was formed in 1987 to meet the specialized insurance needs of affinity groups, non-profits, associations and franchises. It currently serves an array of industries ranging from small business, financial institutions and franchise businesses to fraternal organizations and common-cause groups.

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Publication:Insurance Journal
Article Type:Brief article
Geographic Code:1USA
Date:Jul 11, 2019
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