Cyber Liability Insurance

Cyber Liability Insurance from PIA

62 percent of all cyber attacks hit small and mid-sized businesses. That's why PIA created a cyber insurance program tailor made for PIA members and their small and mid-sized business clients. And while it's great for agents to sell, it's so easy for agents to buy you'll never shop for cyber any other way again.

PIA offers a comprehensive cyber program for its members through ABA Insurance Services. The program carries an A+ rating with extensive coverage that protects your agency in the case of a cyber event.

Coverage Details:

The PIA enhanced cyber insurance policy protects your agency from both first and third party loss by providing coverages that include:

1. Ransomware & Cyber Extortion

Coverage for ransomware events, including extortion-related expenses and digital currency payments. This remains one of the most requested cyber coverages.

2. Business Interruption

Protects lost income and operating expenses when a cyber event disrupts normal business operations. Includes voluntary shutdown scenarios designed to reduce further damage.

3. Contingent Business Interruption

Coverage for income loss caused by cyber events affecting critical vendors, cloud providers, payment processors, and other third parties.

4. Funds Transfer Fraud

Protection against fraudulent transfers resulting from cyber-enabled theft schemes. Included within Cyber Crime coverage.

5. Social Engineering & Business Email Compromise

Protects against employee deception schemes involving fraudulent instructions, spoofed emails, and other social engineering attacks.

6. AI & Deepfake Fraud

Responds to emerging fraud schemes involving AI-generated voices, videos, and impersonation tactics. This is a highly relevant differentiator in today's threat environment.

7. Incident Response Services

Provides coordinated response resources following a cyber incident, including legal and breach response support.

8. Data Breach Notification & Identity Monitoring

Helps organizations satisfy notification obligations and provides affected individuals with identity monitoring services for up to three years.

9. System Restoration & Data Recovery

Coverage to restore systems and recover data after a covered cyber incident.

10. Regulatory Defense & Privacy Liability

Protection for regulatory investigations, privacy claims, and related defense expenses arising from cyber incidents and data breaches.

This program also provides access to online HR resources that can help inform your agency on best practices to prevent a cyber incident, create a plan to respond in the event of a cyber attack, and keep your agency updated on regulatory requirements