USI and Crum & Forster partner on cyber program for law firms
USI Affinity and the American Bar Association (ABA) have announced a new partnership with Crum & Forster to offer a cyber liability insurance program for US law firms.
The ABA Insurance Program provides insurance and financial solutions for members of the association of all sizes.
USI Affinity and Fairfax subsidiary Crum & Forster will provide cyber liability insurance solutions to law firms in all 50 US states.
The program offers comprehensive cyber liability (third-party) and expense (first-party) coverage, with ransomware included up to full policy limit. The liability coverage includes eCrime/social engineering, with loss limits up to $250,000.
The coverage includes 24/7 access to the Crum & Forster Cyber Knowledge Center for the ABA with risk management services that include cyber training, cyber assistance centre and an incident response hotline.
Nick Economidis, vice president of eRisk at Crum & Forster, commented: “Cyber liability is evolving, even in the past six months, we have seen changes in the market, and we are actively evolving our products and service capabilities to meet the needs of target segments like the ABA.”
The ABA first expanded its insurance offerings through USI to include cyber insurance in 2017, which at that time was underwritten by Chubb.