them walk you through the contract. Contact the
claims department of that carrier and learn how the
coverage responds to a real life claim.
3. Stop thinking you need to be tech-savvy to sell
this coverage.
4. Don’t try to sell it, just share the story. Chances
are your insureds know someone specifically that has
had a breach. Then ask questions as to where they
feel the most vulnerable.
5. Share with your clients that they are buying
much more than an insurance contract, they are
buying a team. The carrier contract provides a
host of people who specialize in data breach; their
experience allows for real peace of mind in the
event of the attack.
Why Cyber Liability Insurance?
To conclude, the question is often asked why
should we as insurance agents be concerned with
cyber liability insurance for our clients? First, it is a
legitimate risk for all. The number of cyber attacks
continue to rise every year. Whether you live in a
small rural community or a large metropolitan city,
we are all connected to the World Wide Web and
that makes us all susceptible to cyber attacks. Second,
it protects you from an E&O claim. Knowing the
coverage exists and making your client aware of the
risk is just good business and presenting it will keep
you from having to file an E&O claim. Finally, it is a
great source of increased revenue. In a soft market,
who wouldn’t like to take existing clients and add to
the overall revenue with a coverage type they need. It
is a win-win for client and agent.
There are many more topics that could be discussed
as they relate to cyber liability insurance, but I do
hope this article gives you a sense of what you as an
agent can do for your clients. If you have additional
questions I am happy to respond to email and on
social media or feel free to give me a call.
Email shawn at [email protected]
or call(620) 277-3344.
Welcome New KAIA Members
24
Benner Insurance Group
Bruce A. Benner
922 Porter Ridge Rd.
Kearney, MO 64060
816-903-9000 Henry Lamping
13320 Outlook