Digital Risk Resources

Our Clients Are Insurance Companies

Homeowners Cyber Insurance

Identity Theft is the fastest growing crime in America today.  Millions of homeowners fall victim to identity theft every year.  Computer attacks from criminals and malicious software can steal personal identity information causing substantial losses to policyholders.  Many Insurers offer Identity Theft Remediation coverage in response to this growing threat.  But most of these policies are merely “service contracts” dressed up to look like insurance.

The P-ISAP™ (Personal Internet Security and Privacy) Endorsement provides Identity Theft Remediation coverage as well as 3 additional coverages to respond to policyholders needs and their growing liability from a broad range of threats including hackers, malware, phishing exploits and traditional paper-based personal information risk.

The P-ISAP™ enables insurers to offer robust coverage protection at an affordable price.  Nearly 90% of the Homeowners market offers First Party Identity Remediation coverage that falls substantially short in protecting policyholders from risk.  As the threat of legal liability for transmitting a virus and other types of computer-related liability grows, consumers will come to expect meaningful coverage from their insurance providers where the P-ISAP™ can satisfy market demand.

Why Insurers Should offer this product…

 

  • Homeowners can get sued for transmitting a virus to a third party
  • Homeowners can get sued for losing Personal information in their care, custody and control
  • 37 States (and growing) have laws requiring individuals to notify people whose personal information they had stored has been lost or stolen
  • The P-ISAP™ provides Insurers with a major competitive advantage against First Party Identity Theft Remediation Service contracts provided on competitor forms
  • Fee Income without Risk Bearing

 

Why homeowners will buy this product…

 

  • Most homeowners have Multiple Devices connected to the internet - Internet Access tends to be “Always on”
  • Homeowners are frequently victimized by malware
  • Hackers can steal Personal Information to commit Identity Theft
  • Malware infections can be sent to other people causing THIRD Party Loss
  • If a Homeowner gets sued, this is the cheapest form of legal assistance

 

Please call or email us to find out more about this new and exciting program.

For more information on our Homeowners Cyber Program, click here