 Big "I" member Kathy Yeager of Berger Briggs Insurance & Risk Solutions, Inc. in New Mexico recently tried our new Coalition cyber product and was pleased with the process and outcome.
Yeager has 34 years of experience as an agent and is a former member of the IIABA Agency Administrative Services board, the body that approved Big "I" Markets moving forward with the new Coalition cyber product.
Once the product became available, she sought a policy for her own agency.
A key feature that sets the Coalition product apart from competitors is its pre-assessment process that evaluates the web properties of the client for potential vulnerabilities, and Yeager was impressed with this aspect.
"Coalition searches for cyber breaches that you may not even be aware of and gives you recommendations for fixing those issues. They also offer ongoing monitoring of your web portal," Yeager says. Yeager liked the pre-assessment process and was happy her agency got a "clean bill of health."
Yeager described the cyber submission and binding process as "very easy" and noted that the level of service exceeded her expectations.
"This product offers a great marketing concept, is easy to use, and has very knowledgeable and helpful underwriters," Yeager says. "The underwriters just jump right in and help you immediately with any questions you may have regarding coverage and difficult issues that you may be facing that are unique to a risk."
She will definitely be marketing and writing more Cyber Insurance - Coalition policies in the future, and recommends her fellow Big "I" agents jump in and take a close look at this new offering.
Ready to begin submitting risks today? View our brief demo video of the submission process first then visit www.bigimarkets.com.
Learn more about Coalition's mission to Solve Cyber Risk by registering for our October 4th introduction webinar, logging into Big "I" Markets or contacting Carla McGee, Cyber Liability Program Manager, with any questions.
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SPECIAL FEATURE
Cyber Webinar Set for Oct 4
 Join us on Thursday, Oct 4 from 2-3 ET for an introduction to the Coalition Cyber Liability available through the Big "I" Markets platform. Attendees will gain an understanding of how to enter business into BIM, be redirected to the Coalition website, view the automated risk assessment process, bind coverage and launch the epay collection process for premium, taxes and fees.
This product is NOT just your standard BOP endorsement. Coalition is the first insurance-enabled technology firm built to help businesses before, during and after a cyber incident. During the online quoting process, the insured's network and web properties undergo an automated risk assessment to underwrite the risk and identify known issues and potential weaknesses in the insured's security posture. Once coverage is bound, Coalition provides ongoing monitoring for new and emerging threats specific to the information technology used by the insured, adding an extra layer of defense. All policies include this technology-driven approach- which includes automated alerts, threat intelligence and ongoing policyholder monitoring- along with a dedicated claims and security team should a breach occur.
Panelists will include Coalition Head of Insurance Shawn Ram (subject to change) and Big "I" Markets Cyber Liability Program Manager Carla McGee.
Ready to jump in and start selling cyber policies? View our brief demo video on the cyber submission process. Then download a marketing flyer that can be used to educate your clients on program features and benefits, which can be customized with your agency information.
Learn more about Coalition cyber at www.bigimarkets.com.
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Lack of Reporting Means a Need for Kidnap & Ransom Coverage
 Kidnapping crimes sound like the stuff of movies. Remember the 2016 movie Firewall, where the family of a bank security expert is held hostage while kidnappers demand he steal $100 million through the security system he created?
These terrifying and dramatic incidents happen in the real world, too. Yet a recent survey of over 1,800 organizations ranked "kidnapping, ransom and extortion" 55th out of the 55 biggest fears. That's not surprising since you don't often see kidnapping in the news, perhaps in part because estimated 65% to 70% of overseas kidnappings of US citizens go unreported.
If you're a Big "I" Markets agent, your clients can benefit from Kidnap & Ransom coverage, one of the modular programs available under Travelers Wrap+ Executive Liability for Private Companies.
In discussing this coverage with your clients, ask them to consider the costs of a potential kidnapping, extortion or illegal detention. Even when no ransom demand is paid, or made, it can create unexpected costs and have a significant impact on a business' balance sheet. Expenses may include the fees of negotiators, investigators, attorneys, public relations professionals, forensic analysts, security guards and consultants. In addition, there may be reward money, interest on loans and additional salaries to be paid, or extensive medical costs not covered by traditional insurance plans. Add that all up, and your client's business may face a significant financial drain, with or without paying any ransom monies.
One of the most important benefits of a Travelers policy is the immediate priority access to Olive Group crisis response team. Olive Group's crisis response team is pre-deployed around the world to deliver vital rapid-response capabilities and ensure specialists arrival within 24 hours of an incident.
Review this informative flyer from Travelers explaining five reasons your clients should purchase K&R coverage.
To access the Wrap+ Executive Liability for Private Companies please log into Big "I" Markets and look for Wrap+ products in the commercial product listing.
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NEW Cyber Insurance - Coalition Training Sessions
Big "I" Virtual University
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NEW Inland Marine - Wrap-Ups, OCIPs, and CCIPs: Issues and Solutions
Big "I" Virtual University
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Date: Thursday, October 4
Time: 2:00 - 3:00pm EDT
Cost: FREE
Summary:
Introducing Coalition Cyber Liability through the Big "I" Markets platform. Gain an understanding of how to enter business into BIM, be redirected to the Coalition website, view the automated risk assessment process, bind coverage and launch epay collection process for taxes and fees.
Panelists:
Shawn Ram - Coalition
Aimee Fawns - Big "I" Markets
Carla McGee - Big "I" Markets
Please send any questions to Carla.McGee@iiaba.net.
Registration:
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Dates: October 17
Time: 1:00 - 2:30pm EDT
Cost: $49 (includes live presentation, recording and written transcript)
Summary:
Insurance agents and brokers who provide services to construction managers, general contractors, and subcontractors - this is a MUST ATTEND EVENT for you.
You will come away from this workshop with:
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An understanding of the use of CIPS and current trends
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The ability to identify issues inherent with CIPs
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Contract documents
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CIP manuals
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CIP policies
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Useful tips and solutions you can use to better advise your clients and structure appropriate insurance programs
Don't miss this overview of the major additions, deletions, and revisions you need to understand in order to advise your clients.Please send any questions to VU staff. Review all VU education offerings here.
Registration:
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NEW Lightning Learning for October
Big "I" Virtual University
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Dates:October 10, 24, 31
Time: 11:30 - 11:50 a.m. EDT
Cost: $9.99 for all three sessions
Summary:
The VU's October Lightning Learning series features three 20-minute sessions dedicated to trick or treaters, blogging, and Ordinance or Law Even if you can't participate in the live sessions, you will receive a link to the on-demand recordings and can listen to them at your leisure. Register once and attend:
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October 10 - The Trouble with Trick or Treaters – What to Tell Your Clients
Three weeks from the date of this session, those little candy beggars will coming knocking on your and your insured's door. From a liability standpoint, would it be better to turn the light off and go someplace else to avoid any liability issues?
No, I don't want to take away your fun. Stay home and pass out all the candy you don't eat yourself.
But, I do know there are those among us who like to prank before being pranked – what about their liability?
This is the focus of this session – legal liability for injury on your premises suffered by one of the little darlings disturbing your evening. In this session we:
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Review legal liability; and
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Discuss whether your HO policy provides the necessary protection.
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October 24 – Do Your HO Clients Blog (Or Talk Bad About ANYONE)? You Better Know
Social media has made it easier than ever for everyday citizens to ruin the life of a neighbor or a local business. Blogging, facebooking, etc. allows your insureds to spread rumors, tell lies, criticize or just blow off steam about those around them.
The ability to denigrate someone to a large audience has increased the personal injury exposure for your homeowner clients. This is easily remedied by an endorsement, but are carriers going to begin asking new questions? I don't know. But it's worth a thought.
In this session we review the personal injury exposure, the endorsement and some ideas you can pass along to your clients to help them avoid being sued.
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October 31 – Ordinance or Law Problems for Homeowners
Any house not in compliance with current building codes subjects the owner to a potentially major coverage gap following a "major" loss because ISO's homeowners' policy provides only a limit amount of coverage to pay the additional costs of rebuilding a home in compliance with current building codes.
In this session we:
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Define what constitutes a "major" loss from a building code perspective;
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Highlight the limited amount of coverage provided by the unendorsed HO policy; and Detail the HO policy Ordinance or Law endorsement.
Consider presenting conference style for the entire agency to benefit. Please send any questions to VU staff.
Registration:
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BIG "I" MARKETS SALE OF THE WEEK
Congratulations to our agent in North Carolina on a Bond sale of $5,553 in premium!
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