UPS Capital Offers Cyber Insurance For SMBs
The subsidiary of UPS offering financial and insurance solutions, aka UPS Capital, has recently introduced a cyber liability coverage in all states except Vermont and New York, underwritten by BCS Insurance Company. The policy provides first-party coverage for security breach response, cyber extortion, income and digital asset restoration. Also, third-party coverage for consequences that may result from a cyberattack such as litigation, investigation and fines, is also included.
“Cyberattacks and the need for cyber liability insurance are a growing concern for our customers. Many small and mid-sized companies are just not prepared for the type of loss a cyber-incident can cause. UPS Capital now offers a comprehensive policy to protect small and mid-size businesses against the more complicated and expensive consequences of a cybercrime” – Mark Robinson, President of UPS Capital.
Bottom Line: Something to think about, the next time you read about another cyber insurance startup.