Grange Insurance launched its new Cyber Coverage for businesses this week, offering critical protection against potential data breaches.
The new coverage offers limits ranging from $25,000 to $1 million, first- and third-party coverage and breach response planning and reputation management from CyberScout®, an industry leader in cyber security.
“We are proud to offer such a crucial product for our commercial customers,” said Mike Winner, President, Commercial Lines. “Cyber coverage is quickly becoming a necessity for businesses of all sizes. Not only does our coverage offer a variety of options for customers, but we’ve also partnered with the best in the industry when it comes to protecting businesses.”
Grange’s comprehensive offering will cover the following:
First Party: Data breach expense coverage for items such as notification letters to customers and call handling and reporting.
Third Party: Third-party liability coverage including media wrongful acts, network security wrongful acts and privacy wrongful acts.
Ransomware and Extortion: Protection against criminals who install malware on personal devices and demand payment to remove it.
Sixty percent of small businesses will close within six months of a data breach.1 From sophisticated hackers to an employee simply misplacing a phone – business and customer data is constantly at risk. And the results can be severe and expensive.
Grange’s partnership with CyberScout provides information that will help keep online information secure including:
- Building an effective data breach response plan.
- Receiving guidance on the best breach response strategy.
- Protecting business reputation.
- Help preventing regulatory sanctions or fines.
1 – U.S. House Small Business Subcommittee on Health and Technology
