CAMBRIDGE, Md., June 08, 2017 (GLOBE NEWSWIRE) -- Small- and medium-sized businesses (SMBs) across the globe are under attack. More than half of the 600 SMB respondents to a 2016 survey conducted by the Ponemon Institute said their respective businesses had experienced a cybersecurity event in the previous year. Those breaches can be costly, averaging $879,582 in damages or theft of information assets, and an average loss of nearly $1 million due to the disruption of business operations.
To address this trend and protect SMBs and their employees and customers, Wingman Insurance introduces Wingman Cyber Insurance, an online platform that enables SMBs to easily acquire cyber insurance coverage across all industries — quoted in just minutes and purchased online within a few steps.
“The insurance industry has largely failed to provide and market adequate coverage for SMBs to protect them from potentially business-closing cybersecurity events. Furthermore, those attacks can compromise personal, financial and healthcare information held by businesses for both employees and customers,” said Ellie Feldman, managing director of Wingman Insurance. “That’s why we’ve developed Wingman Cyber Insurance to enable brokers to easily acquire a quote and bind cyber insurance coverage in minutes through our revolutionary online platform.”
The Wingman Cyber Insurance platform offers brokers a user friendly online interface to acquire a quote, bind and issue admitted cyber policies for SMBs through an online, six-question application, making cyber insurance easy to understand for both brokers and buyers. Once the application is complete, the Wingman platform will offer multiple cyber insurance quotes from AXIS Insurance with policy options up to $3 million in aggregate policy limits so businesses can choose the appropriate level of coverage.
Every cyber policy issued from the Wingman platform and exclusively underwritten by AXIS will protect businesses from loss and liability caused by:
- Cyber criminals who have gained access to IT systems
- Viruses or malicious code that has infected computer systems
- Theft or destruction of electronic data by an unauthorized user
- Scams that use social engineering tactics including phishing to gain access to IT networks
- Inability to access a computer system resulting from a denial of service attack or files being blocked or held for ransom by malicious software
In the event of a data breach, Wingman’s cyber insurance policy also provides services and covers the costs of critical business functions including legal support and computer forensics to investigate a cyber incident and breach response. This includes notification to customers, call center services, fraud and credit monitoring, identity theft insurance and public relations assistance. To learn more about Wingman Cyber Insurance, head to https://wingmancyber.com/.
Wingman Insurance also provides a full complement of insurance solutions for small technology companies, including workers’ compensation, business owner policy as well as errors and omission coverage. Wingman’s success is grounded in partnering with knowledgeable brokers; offering a quick and painless online application process; and working with trusted, A+ rated carriers to ensure equitable payouts for claims.
About Wingman Insurance
Wingman Insurance was founded to make writing technology insurance faster, smarter and easier. By combining years of underwriting experience with expertly tailored insurance products and a user-friendly policy management system, Wingman has simplified and accelerated the process for brokers and customers alike. Wingman, founded by G. Philip Feldman who spent years running a traditional insurance agency, offers specialized coverage for technology risks in the form of a single insurance solution for all tech companies that qualify, and now has added Wingman Cyber, a specialty insurance product for small and medium-sized businesses to protect against loss resulting from cyber attacks and data breaches. The Wingman brand is part of the SeQure Underwriters LLC family, based in Cambridge, Maryland. To learn more about Wingman Insurance or Wingman Cyber Insurance visit us at www.wingmaninsurance.com
Coverage is underwritten by a member company of the AXIS group of insurance companies. Coverage may not be available in all states and jurisdictions. This information is for descriptive purposes only and does not provide a complete summary of coverage. Consult applicable policy for specific terms, conditions, limits, limitations and exclusions to coverage.