AmericanAg launches personal cyber coverage product

AmericanAg announced the launch of a new turnkey product, Personal Cyber Coverage, available exclusively for adoption by the Farm Bureau^® insurance companies.

Personal Cyber Coverage is an endorsement that attaches to homeowners policies. It is specifically designed for individuals and families, and subject to its terms, provides reimbursement coverage for expenses related to some of today’s most common cyber exposures, including identity theft, cyber extortion, cyberbullying, and cyber fraud. Built-in support services are provided by Cyberscout, a TransUnion brand.

In addition to the endorsement, AmericanAg has committed to providing underwriting guidelines, assistance with rates, filing support, training, and marketing materials for companies that offer the product. Personal Cyber Coverage can be customized for an insurance company’s proprietary forms and embedded on all homeowners policies.

“We designed Personal Cyber Coverage to be competitive in both scope and pricing. Our goal was to provide additional value to our Farm Bureau^® customers by helping them meet their policyholders’ needs.” – Lorie Graham, Senior Vice President and Chief Risk Officer of AmericanAg.

Personal Cyber Coverage is the latest addition to the AmericanAg suite of cyber offerings, which also includes Farm and Commercial Cyber Coverage.