Nearly all successful cyber-attacks originate from the more than three billion fake emails sent each day attempting to coax recipients into clicking on a link which exposes private information, hacked credentials, or worse. That is why RT ProExec, a division of RT Specialty and a leading wholesale distributor of specialty insurance products and services, is delivering a new insurance product which expands the scope of cyber coverage the company is currently able to place for commercial businesses by leveraging ClarionDoor’s technology.
Today, individuals, small businesses, large corporations, and even cities are at risk, as evidenced by the recent ransomware attack in Texas, and yet, cyber is still an emerging and evolving market where insurers are actively trying to figure out how to provide coverage for diverse and rapidly developing risks.
“Navigating the sea of changing cyber risk is an important role for dedicated wholesale products,” said David Lazzaroni, senior vice president, professional and executive liability at RT ProExec. “The islands of protection and expert brand response are critical to protect a company’s balance sheet in the event of a cyber hurricane.”