It’s easy to think about cyberattacks and other digital crimes as a threat to only the biggest brands. Equifax, Target, Home Depot, Sony and other household names have been in the news for major data breaches in recent years. Yet every company is a potential target for cyber criminals—including businesses in the lumber and building materials space. In fact, some of your peers have been targeted by ransomware and other cyberattacks.
That’s why we have added our new Cyber Suite to our insurance offerings. Available to most property policyholders, it protects wood-related businesses against fallout from cyber incidents with a package of five coverages:
- Data compromise response expense coverage
- Computer attack coverage
- Cyber extortion coverage
- Data compromise liability coverage
- Network security liability coverage
We are especially excited about this product because it provides access to risk management resources to help you prepare for and respond to data breaches and cyberattacks. The eRiskHub® online portal includes an incident response plan roadmap, online training modules, data breach risk management tools, a directory of external resources, a news center and a learning center with best practices and white papers. Plus, customers will have access to TechQ, a resource that provides free computer diagnostics and offers competitive rates for digital security services like virus removal and technical assistance.
The Cyber Suite has aggregate limits between $50,000 and $1 million. We are offering it as a coverage enhancement for our insureds and will be part of all new PLM property policies in available states. For current insureds, Cyber Suite will be included to their policy upon renewal. For more information check out https://www.plmins.com/cyber/ or contact Customer Service at custserv@plmins.com or at 800-752-1895.
If you would like to learn more about cyber risks facing businesses like yours, check out this recent article by PLM Security Analyst Ross More at Property Casualty 360.
