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Managing general agent Coalition Inc. said Tuesday it is offering cyber coverage for small and midsize manufacturers to protect them from security failures and data breaches.
The coverage by the San Francisco-based firm, which has up to $10 million in limits, includes:
-Property damage, bodily harm and pollution resulting from a security failure;
-Supply-chain interruption from cyberattacks against the insured or its suppliers;
-Invoice manipulation that results in payments being misdirected or fraudulently directed;
-Technology disruption that affects operational and industrial controls, hardware and/or software;
-Wire fraud losses from payment or delivery of money or securities; and
-Costs to replace computer systems, including industrial control systems, damaged in a cyberattack.
Coalition said in February it is broadening its coverage for small and midsize businesses for General Data Protection Regulation violations.
Independent Insurance Agents and Brokers of America Inc. members will offer cyber and technology errors and omissions coverage under a partnering arrangement its online market access system, Big I Markets, has made with managing general agent Coalition Inc.