With our proactive, comprehensive Cyber Security Insurance coverage, we offer coverage for one of the fastest growing risks for today's businesses. Our Cyber Security Insurance coverage provides first- and third-party liability coverage for eligible expenses and exposures associated with a data-breach incident, such as notification of a breach and remediation services for impacted individuals.
Our offering includes both proactive services to help minimize the occurrence of a data breach and post-breach services to provide expert assistance if one occurs. Data-breach protection and remediation services include:
Value-add online proactive resources, including data breach risk assesment tools
Immediate response from expert data breach consultants
...that’s what a business that doesn’t have Cyber Coverage will pay for data breach services.
of small and mid-size businesses were targeted by cybercrime
Click to download Frequently Asked Questions about Cyber Liability Insurance
Our program, called Penn ID: Informed Driver, includes a device installed within the vehicle that communicates with a smart phone-based application.
The device collects the driving data and then transmits it to the phone through a Bluetooth connection. An app downloaded onto the phone holds the data until a Wi-Fi connection can be located, where the driving data will then be uploaded.
There is a 5% discount to enroll in the program. A driver can only benefit: there is no surcharge based on the observed driving behaviors, and not all drivers in a household have to participate in the program. Participants have the ability to monitor and learn from their driving through an online portal. The portal includes a user- friendly interface where miles driven, number of trips taken, average speed, max speed and the times of day most frequently driven can be reviewed. This feedback loop is where drivers can learn and improve.
For a variety of reasons, Penn ID will not be for every driver. However, a recent survey released by the Insurance Research Council found that more than half of the drivers surveyed changed their driving behaviors after installing a telematics device. Obeying the speed limit and maintaining a safe following distance were the two behaviors most likely to changes. Additionally, survey participants that received their driving Information found value in reviewing their driving habits.
Drivers age 18-34 are the most likely to participate in usage-based auto Insurance programs. This demographic is more likely to engage in a program that matches their driving behaviors to premiums paid rather than a program that only uses traditional factors such as age or credit score.
Our controlled launch has provided us with an opportunity to understand the needs of our agents and consumers. The feedback from this group will be incorporated into our state-by-state rollout beginning in 2016.
We continued to expand the use of data analytics, including: