PIA Cyber Insurance (to sell)

Program Summary

PIA and ABA Insurance Services (ABAIS) have worked with Great American E&S Insurance Company (rated A+ by A.M. Best) to create a cyber insurance program tailor-made for small and mid-sized businesses. PIA cyber insurance can protect businesses from computer, network and internet-based risks. As a PIA member you are eligible to sell the PIA enhanced cyber insurance product to your clients.

Program Detail

Important Details About PIA Cyber Insurance:

  • PIA cyber insurance is a non-admitted program.
  • ABAIS will file all surplus lines taxes. PIA member producers will need to provide ABAIS with completed surplus lines forms in certain states.
  • Direct bill (agency bill available)
  • Sales commission: 12.5%

Coverage Details:

The PIA enhanced cyber insurance policy covers both first and third party loss. Coverage includes:

  1. Social Engineering
  2. Fraudulent Funds Transfer
  3. Ransomware/Extortion
  4. Business Interruption
  5. Data Breach/Privacy
  6. Network Security
  7. Media Liability

 

It’s exciting to think that many PIA members will start writing business with the carriers on the PIA Market Access platform and eventually qualify to have their own contracts with those carriers.

Mike Becker, Executive Vice President & CEO, PIA

PIA Policy Enhancements

In addition to the seven coverage parts listed above, PIA and ABAIS have worked with Great American Insurance Company to provide PIA members with reduced rates compared to GAIC’s standard program for social engineering coverage as well as the following policy enhancements:

  • Expanded definition of multimedia wrongful acts – unauthorized use of website links, frames, formats, fonts, style, characters, titles.
  • Coverage for HIPAA fines.
  • Extended notice of Data Compromise (data breach event) from 5 to 30 days.
  • Extended notice of Claim from 60 to 90 days after the end of the Policy Period.
  • Extended notice of Non-Renewal from 60 to 90 days in advance of the Policy Expiration.

 

Cyber Insurance Marketing Support

If you are currently writing cyber insurance or are looking for resources to educate your clients and yourself about the seven most common cyber risks faced by small and mid-sized businesses, review the additional resources below:

Cyber 101: Created by PIA and The PIA Partnership, visit Cyber 101 to access 30-minute webinars, interactive claims examples, and customizable general cyber education materials to share with your clients.

Customized PIA Cyber Coverage Summary Sheet (PIA members only)

Get Started

Ready to enroll?

Please complete the short PIA Cyber Program Enrollment Form to get started.

By logging in to the form above you are validating your PIA membership. After submitting the form, you will hear from ABAIS within a few business days.

Already appointed to sell cyber insurance through ABA Insurance Services?

Tell them that you are a PIA member so you can start selling the PIA enhanced cyber insurance product. To tell ABAIS you're a PIA member, simply fill out the PIA Cyber Program Enrollment Form.

Need more information?

Attend an informational webinar.

Need cyber insurance for your agency?

Learn about PIA cyber insurance for your agency. It's the easiest way to buy cyber. Period.

Have a question?

Have a question for PIA? Contact us at ProductsAndServices@pianational.org.