Berkley, IDT911 team to offer ‘right-size’ coverage for SMEs

Berkley Re Direct (a W. R. Berkley Co.) and IDT911 reaffirmed a partnership with a new, comprehensive privacy, breach and cyber liability product to fit small- and middle-market businesses with appropriate coverage and services.

In joining forces, Berkley Re Direct and IDT911 provide:

•     An innovative program offering the highest degree of flexibility to be tailored to individual company needs;
•     Flexible quota-share options ranging from 50 to 100 percent while allowing the future ability to assume the program;
•     A strong choice, offering the flexibility to explore diversification from other reinsurance partners;
•     Broad first, third party and business interruption coverages with limits that span $25K to $1M;
•     In many cases, no minimum treaty premium requirement and flexible opt-out, opt-in or hybrid rollout approaches;
•     A breach website featuring exclusive resources to help business owners recognize data risks, as well as federal and provincial compliance laws and their notification requirements;
•     Proactive, on-call professional assistance to help companies enhance their data privacy procedures and more;
•     Roll-out and ongoing training support for company and agency staff.

“By collaborating with IDT911, Berkley Re Direct is able to provide a comprehensive offering which includes consultative breach and cyber services to help primary policyholders reduce their risk of a breach, or work them through it should one occur,” said Christopher Ellis, vice president and chief marketing officer at commercial lines reinsurer Berkley Re Direct. “In light of recent high profile data breaches, we’re thrilled to affirm our nearly two year relationship with IDT911, allowing our clients to differentiate themselves and create tangible insured value in this evolving space.”

With IDT911 DataRiskStages™, commercial policyholders have assistance to prepare for and defend themselves against a breach. If a breach occurs, IDT911 experts will help commercial policyholders swiftly and effectively respond. IDT911 will assess breach severity, provide advice on notification and regulatory requirements, and assist with media relations and necessary steps to safeguard sensitive information. Every step of the way, commercial policyholders have a trusted partner to help them position themselves to reduce or mitigate regulatory sanctions or fines and civil litigation.

“Coverage alone is not enough,” said Matt Cullina, IDT911 CEO. “Policyholders need a trusted advisor for breach and cyber assistance, both proactively and reactively.”

DataRiskStages also helps commercial policyholders comply with state and national breach requirements mandated by the federal government.