Arbella Launches Cyber Coverage for Small to Medium-Sized Businesses
The Arbella Insurance Group, has launched CyberPro Data Breach and Third Party Cyber coverage designed specifically for small and medium-sized businesses.
The new CyberPro offers an end-to-end cyber security, including proactive protection and post-breach remediation to help minimize the risk and impact of a data breach and third party cyber liability.
According to a 2017 Ponemon Institute study, more than 61 percent of small businesses have been hacked in the last 12 months, up from 55 percent in 2016. Additionally, small businesses are now the most likely target of malware and phishing campaigns. The 2017 Internet Security Threat Report by Symantec found that each day 400 businesses face incoming spear-phishing emails sent to financial staff or upper management. FBI estimates indicate that over the past 3 years there have been more than 22,000 victims of these types of scams worldwide, resulting in more than $3 billion in losses.
CyberPro coverage incudes:
- Employee education and prevention around cyber security
- Breach notification letters for customers and government agencies
- Documentation during remediation process
- Financial reimbursement for direct losses associated with a breach
Arbella CyberPro coverage is available to new Arbella customers in Massachusetts, Connecticut, Rhode Island, and New Hampshire December 1 and renewal customers Feb. 1, 2018.
The Arbella Insurance Group is headquartered in Quincy, Mass., and focuses on regional property and casualty insurance company, providing personal and business insurance in Massachusetts and Connecticut, and business insurance in Rhode Island and New Hampshire.