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