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NEW BCS CYBER POLICY FORM!

Effective October 1, the following states have adopted the new Cyber policy form and enhancements: Connecticut, Illinois, Iowa, Kansas, Kentucky, Maryland, Montana, New Hampshire, New Jersey, North Carolina, Ohio, Oklahoma, Pennsylvania, Texas, Virginia, and Wisconsin.

If you have existing open offers in these states, please go back and re-quote in order to extend these benefits to your client.

For a complete comparison to the prior form, and a list of all applicable sub-limits, please review here.
NEW BCS CYBER POLICY FORM!

While the changes are too numerous to list here, a few of the highlights, some of which carry sub-limits, include:

Significantly enhanced Cyber Deception/Social Engineering coverage option* with multiple limits, lower premiums and retentions
*Subject to eligibility
Lower minimum premiums:
$3M limit - was $7,500, now $1,250
$5M limit - was $12,500, now $2,500
$10M limit - was $50,000, now $5,000
An entirely new Electronic Fraud section that includes Phishing, Telephone Fraud, Services Fraud, Funds Transfer Fraud, Reward Fund Loss and more
“Bricking” coverage - replacement of computer hardware from a covered Security Compromise
Single aggregate retention in a policy period
Removal of the aggregate limit on first party coverages means limits automatically refresh with each new covered incident
*Not applicable to Cyber Deception coverage or PCI DSS Assessment
Bodily Injury and Property Damage liability resulting from a covered Privacy or Security claim
Affirmative TCPA coverage for both Damages and Claims Expenses

For a complete comparison to the prior form, and a list of all applicable sub-limits, please review here.  And, for an updated comparison of all 3 carriers, please click here.  This information can also be found on the dashboard. For greater explanation of these coverages, contact your RPS Product Expert.
Lloyd’s Miscellaneous E&O – Product Update 2019

In our continuing effort to keep the products on RPS Small Business fresh and competitive, we are happy to reveal the following updates to the Lloyd’s Miscellaneous E&O product.

Income threshold for reduced question set (“Fast track” quoting process) increased to $1,000,000 up from $500,000
Reduced rates across all business classes
Simplified deductible calculations

Effective September 23, if you have any open quotes, please re-quote in order for your client to benefit from these updates.
*Additional product information available on the dashboard.