OVERLAND PARK, Kan., June 5, 2019 /PRNewswire/ -- Lockton Affinity is now the administrator for CyberLock Defense, a market leading standalone cyber liability policy with options for over 40 industry groups including retail, industrial and manufacturing, financial services, restaurants, and more.
"Cybercrime is the number one emerging insurance risk to most organizations," says Jeff Severino, practice leader for CyberLock Defense. "Although business owners often see this as a threat only faced by big business, we are now seeing statistics that show over 50 percent of small and medium-sized businesses have experienced cyberattacks or breaches in the past year. We developed CyberLock Defense to protect businesses of all sizes with superior admitted coverage and an easy quoting and binding process."
Key benefits of the CyberLock Defense insurance program include:
- Broad first and third party coverage options to address cyber extortion, breach of data privacy, contractual liability, copyright infringement and rogue employees
- No sublimits of coverage
- Combined single limits of liability available for all coverage, including cyber theft, social engineering loss, ransomware and more
- Automatic business interruption expense and reputational harm coverage
- Policy limit options from $100,000 to $10 million
- Quick and simple quoting and binding processes
- Admitted, non-admitted, and excess policies available
About Lockton Affinity: Lockton Affinity, an affiliate of Lockton Companies, was formed in 1987 to meet the dynamic, specialized insurance needs of affinity groups, non-profits, associations and franchises. Today, Lockton Affinity is one of the nation's leading program administrators, serving a wide array of industries ranging from small business, financial institutions and franchise businesses to fraternal organizations and common-cause groups.
SOURCE Lockton Affinity