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
Grange Insurance, with $2 billion in assets and more than $1 billion in annual revenue, is an insurance provider founded in 1935 and based in Columbus, Ohio. Through its network of independent agents, Grange offers auto, home, life and business insurance protection. The company and its affiliates serve policyholders in Georgia, Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia and Wisconsin. For more information, visit www.grangeinsurance.com.