Lawyer’s Protector Plan (LPP) has partnered with The Cyber Protector Plan (CPP), to offer LPP insureds the option of cyber liability coverage. The partnership offers LPP Insureds the additional coverage necessary in today’s highly automated society.
TAMPA, FL (PRWEB) SEPTEMBER 09, 2015
The Cyber Protector Plan® (CPP) is pleased to announce its product is now offered on an admitted basis in 38 states to select professional firms. The CPP offers LPP insureds a solution to privacy breaches and information security exposure tailored to the specific needs of diverse organizations. This solution offers forensic, legal, notification, credit monitoring and call center services, ensuring that when a breach occurs, the affected organization can move swiftly to protect its reputation with customers. Protection is now available on an admitted basis for law firms with up to 10 attorneys.
“According to a study by the Ponemon Institute, there was an 11% increase in the total cost of a data breach over the past year with the average cost coming in at $6.5 million*, making this coverage absolutely necessary for all professional organizations, which is why we are proud to introduce our admitted product into the marketplace,” says Urvish Patel, Executive Vice President of the CPP.
Benefits of the Cyber Protector Plan include:
- Breach response services provided outside the third party limit of liability, ensuring that this limit will not be eroded by prior use of the available breach response service
- Forensic and legal assistance from a panel of experts to help determine the extent of the breach and the steps needed to comply with applicable laws
- Notification provided on the basis of the number of affected individuals, not a dollar amount, to persons who must be notified under applicable law
- Each notified individual will receive an offer for 12 months of free credit monitoring
- Identity theft-related fraud resolution service for individuals enrolled in credit monitoring who become victims of identity theft
“The LPP program is committed to helping lawyers and law firms deal with emerging trends and developments in the legal profession and the business of running a law practice,” says Laura Simon, Executive Vice President and Program Manager of the LPP. “The Cyber Protector Plan offers insurance solutions including risk management tools to assist law firms in protecting the confidentiality of client information and other data concerning their law practice.”
About Lawyer’s Protector Plan® (LPP)
The Lawyer’s Protector Plan (LPP) program is designed for small to mid-sized law firms. The LPP program has specialized in providing professional liability insurance to lawyers since 1983 and currently serves over 7000 lawyers engaged in the private practice of law. The LPP performs multiple services on behalf of an exclusive insurance carrier partner including underwriting, marketing, website hosting, distribution management, policy issuance, risk management and claims handling.
The program can be accessed through retail insurance agents in Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Wisconsin, and the District of Columbia.
LPP® is a division of B&B Protector Plans Inc., which is a wholly-owned subsidiary of Brown & Brown, Inc. (“Brown & Brown”), a publicly held insurance intermediary whose stock is traded on the New York Stock Exchange, Inc. Brown & Brown is ranked as the seventh largest insurance intermediary in the United States by Business Insurance magazine.
About Cyber Protector Plan® (CPP)
The Cyber Protector Plan® is a division of B&B Protector Plans Inc., specializing in Cyber Liability insurance, and is a wholly owned subsidiary of Brown & Brown, Inc. offering comprehensive and proactive solutions to the critical cyber security issues faced by businesses today. The CPP is dedicated to assisting businesses in meeting compliance standards through risk management services, education and training. The Cyber Liability Insurance Program is offered through Beazley, which manages Beazley Insurance Company Inc. and six Lloyd’s syndicates.
The program is offered on an admitted basis in Alabama, Arizona, Arkansas, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, West Virginia, Wisconsin, and the District of Columbia. The program is offered on a non-admitted basis in Arkansas, Hawaii, Iowa, Louisiana, Maryland, Montana, New Mexico, Virginia, Vermont, Washington, and Wyoming.
CPP® is a division of B&B Protector Plans Inc., which is a wholly-owned subsidiary of Brown & Brown, Inc. (“Brown & Brown”), a publicly held insurance intermediary whose stock is traded on the New York Stock Exchange, Inc. Brown & Brown is ranked as the seventh largest insurance intermediary in the United States by Business Insurance magazine.
*Ponemon Institute Cost of Data Breach Study (May 2015)