80 percent of businesses fail to recover from a data breach

Protect your agency with the right cyber liability insurance

Ohio Insurance Agents Association, Inc. (OIA) and Arlington/Roe & Co., Inc. have partnered to offer our members an exclusive, robust program to help protect their agencies from information security breaches.

Responding to a breach is a complicated process requiring the assistance of many different professionals. Failure to notify affected individuals "without unreasonable delay" could cost your agency up to $1.5 million in fines from government agencies. Add this to the $200,000 average cost to comply with notification laws, the legal liability and the reputational harm caused by the breach, and you can quickly see how this exposure can be devastating to your agency.

This program is a holistic risk-management process that will help train your staff on privacy compliance in addition to handling data breach notification and third-party suits. Benefits include:

  • Only available to OIA members
  • No encryption requirement
  • OIA members are pre-qualified for enrollment*
  • Up to 50% off premium vs. open-market product
  • HIPAA compliance tools
  • Online compliance materials
  • Step-by-step procedures for compliance
  • Staff training programs and resources
  • Newsletter
  • Expert support online
  • Data breach coach to help with notification
  • Regulatory fines and penalties
  • Forensic investigators
  • Public relations firms
  • Privacy counsel
  • Call center
  • Credit restoration services
  • Notification costs outside limit of liability
  • Credit monitoring
  • Security and privacy liability

*Some restrictions apply. Agencies with over $10 million in revenue, over 50 percent benefits or with prior losses need to be underwritten.

 
Sample of rates for agencies with revenues less than $1,000,000:


Option 1
Option 2
Option 3
Option 4
Limit of Liability
$250,000
$500,000
$1,000,000
$2,000,000
Retention
$1,000
$1,000 $1,000 $1,000
Notification Limit Legal,
Forensics & PR

(outside limit of liability)
25,000 records
$250,000
50,000 records
$500,000
100,000 records
$1,000,000
100,000 records
$1,000,000
Notification Threshold
100 records 100 records
100 records
100 records
Sublimits
       
Security & Privacy Liability
$250,000 $500,000 $1,000,000 $2,000,000
Regulatory Def. & Penalties
$250,000 $500,000 $1,000,000 $2,000,000
PCI Fines & Penalties
$250,000 $500,000 $500,000 $500,000
Website Media Liability
$250,000 $500,000 $1,000,000 $2,000,000
Cyber Extortion
$250,000 $500,000 $1,000,000 $2,000,000
Data Protection Loss and Business Interruption Loss
$250,000 $500,000 $1,000,000 $2,000,000
Consequential Reputational Loss
$25,000 Policy agg*
$25,000 Policy agg* $25,000 Policy agg*
$25,000 Policy agg*
Electronic Crime
$25,000 Limit* $25,000 Limit* $25,000 Limit* $25,000 Limit*
Fraudulent Instruction
$25,000 Limit $25,000 Limit $25,000 Limit
$25,000 Limit
Telecommunications Fraud $25,000 Limit* $25,000 Limit*
$25,000 Limit*
$25,000 Limit*
Crime Reward Coverage $25,000 Limit $25,000 Limit
$25,000 Limit
$25,000 Limit
Premium
$276.15 $551.25 $827.40 $1378.65
*Subject to policy retention

For agencies with more than $1,000,000 in revenues, contact Lisa Williamson at (800) 555-1742.


This product is offered through the OIA Service Corporation, a wholly-owned subsidiary of Ohio Insurance Agents Association, Inc.

Protecting your agency is easy!

If your agency has revenues of $1,000,000 or less:

  1. Choose the option number and premium from the chart at bottom left.
  2. Complete an application and addendum.
  3. Return all documents to: lisa@ohioinsuranceagents.com or 600 Cross Pointe Rd., Gahanna, OH 43230.

For agencies with more than $1,000,000
in revenues, contact Lisa Williamson at
(800) 555-1742 for pricing.