Member companies can now proactively plan for crises and receive assistance from CyberScout data breach experts
CyberScout™ today announced a partnership with NAMICO Insurance Solutions to offer data breach response coverage and services to Insurance Company Directors & Officers Liability and for Insurance Agents Errors & Omissions Insurance member companies. The service will help businesses proactively plan for a data breach crisis and professionally respond should a data breach occur.
The NAMICO data breach response coverage is sold as an endorsement with a $50,000 or $100,000 limit for first party. The coverage comes with CyberScout’s breach management portal and services, which provide:
- Access to data security education and proactive protection tips
- A calculator to determine the scope of the breach
- A calculator to determine the expenses associated with notifying affected individuals of the breach
- Proactive identity protection guidance and identity restoration services to impacted individuals
- Crisis communication processes for the affected business
- Access to CyberScout’s crisis management breach response team to triage the data breach event
For additional protection to help avoid a breach, member companies can also obtain security assessments through CyberScout sister company CyberScout Consulting™. Security assessments provide a top-line understanding of the organizational, administrative, operational and system practices to best protect sensitive data. Each evaluation is custom tailored to the company’s size and industry to identify key areas for attention.
“Businesses are increasingly at-risk of a devastating cybersecurity breach as threats continue to evolve, and NAMICO is constantly looking for ways to mitigate this by enhancing the value of the insurance products we offer,” said NAMICO's President and CEO Tim Sullivan. “Partnering with CyberScout affords us the opportunity to provide member insurance companies with critical breach resolution services, as well the proactive services to help avoid one.”
Nearly all companies store sensitive customer and business data such as email addresses, phone numbers, Social Security numbers, medical information, propriety business information and tax information. As organizations continue to utilize cloud-based services like CRM and sales tools, and third party vendors such as HR and payroll solutions, the risk of a breach only increases.
For more information, please visit NAMIC Central at any time during Convention, or visit www.NAMICInsurance.com.
CyberScout™ is the leading provider of services that help businesses and their customers defend against data breaches and identity theft. CyberScout’s unique approach—delivering proactive protection, preventive education, and swift resolution—offers unrivaled support for more than 660 client partners and 17.5 million households. With its wholly owned subsidiary, CyberScout Consulting™, CyberScout delivers information security and data privacy expertise to help businesses avert and respond to data loss. Based in Scottsdale, Ariz., the company has several locations in the U.S. and Canada, as well as in Ireland to serve partners in Europe.
About CyberScout Consulting, LLC
A subsidiary of CyberScout™, CyberScout Consulting™ provides practical solutions to help businesses avert, prepare for and respond to a data loss incident. The company provides preventative and breach response services to more than 770,000 businesses in the United States, Canada and the United Kingdom. For more information, please visit www.CyberScoutconsulting.com.
About NAMICO Insurance Solutions
NAMIC Insurance Solutions…NAMIC Insurance Company and NAMIC Insurance Agency…works for the benefit of NAMIC members and their business partners to provide critical professional liability insurance products focused on the mutual insurance industry. NAMIC Insurance Solutions is more than just a marketing name: it reflects the commitment of the staff of these two NAMIC entities to providing members and their business partners with creative solutions and outstanding service. More than 85 percent of member companies purchase some combination of D&O, ICPL, EPLI, Fidelity, Fiduciary or Cyber Liability coverage from Insurance Solutions; more than 3000 member company agents obtain their E&O coverage from us.