Frank Cowan Company releases enhanced cyber insurance product and services geared toward Canadian public entity, not-for-profit and specialty organizations
Princeton, ON (Apr. 15, 2013) – Frank Cowan Company is pleased to announce the release of an enhanced cyber product that meets the specific needs of public entity, not-for-profit organizations and other specialty classes of business across Canada. The product is offered as part of the Company’s comprehensive insurance program.
Backed by AXA XL’s syndicate 2003, one of the largest Lloyd’s Syndicates in the world, the new product features all-inclusive limits available up to $1 million for standard coverages, with higher limits and optional coverage available. The definition of a computer system has been broadened in scope and coverage has been extended beyond the insured shown on the declaration page. Frank Cowan Company, understanding exposure related to data and network sharing, can provide custom coverage to respond.
In addition to introducing coverage updates, the breadth of services available has also been expanded. Clients have access to education, advice, contract reviews and complimentary templates to help prepare, and, if necessary, recover from a cyber incident.
Clients will also benefit from a relationship with Crawford & Company – Frank Cowan Company’s cyber loss service provider. Crawford & Company has specialized expertise responding to and mitigating damage from cyber-related events and will provide resources to respond quickly and appropriately including a dedicated Incident Manager.
“Municipalities and not-for-profits are not immune to cyber attacks. In fact, we’ve seen an uptick in the number of attempts and incidents over the past year. We no longer recognize cyber as an emerging threat, but rather a real risk that every organization should address in their business plan. It demands as much attention as other lines of coverage,” says Larry Ryan, President, Frank Cowan Company.
“One of the main reasons organizations shy away from cyber insurance is that it’s difficult to initiate and is misunderstood. On the other hand, cyber threats and their potential for disruption are greatly underestimated. There’s no better time to start the process than now. When you place your cyber coverage through Frank Cowan Company, you’ll have direct access to cyber specialists – we can provide education, templates and assistance to help right from the beginning,” says Stephanie Resendes and Kevin Simpson, Cyber Underwriting Specialists, Frank Cowan Company.
About Frank Cowan Company
Frank Cowan Company is a Canadian leader in providing specialized insurance programs, including risk management and claims services for municipalities and public service, healthcare, education, community, children’s and social service organizations across Canada. Proven industry knowledge, gained through over 85 years of partnering with insurance companies and independent brokers, gives Frank Cowan Company the ability to effectively manage the necessary risk, advisory and claims services for both standard and complex issues. Frank Cowan Company’s head office is located in Princeton, Ontario with a branch office in Cambridge, Ontario. Clients and broker partners receive support out of both locations. For additional information about Frank Cowan Company, visit www.frankcowan.com.
SOURCE: Frank Cowan CompanyTags: Cyber Insurance, Frank Cowan Company