KIA&B 2017 Vol. 22, No.5 | Page 26

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