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FrankCrum Introduces Enterprise Cyber Liability Program

FrankCrum
by FrankCrum on August 3, 2021

FrankCrum, a leading professional employer organization (PEO), today introduced an Enterprise Cyber Liability Program available to its clients.

"Technology-related risks aren't just a concern for large corporations," said Matt Crum, Co-President of FrankCrum. "All businesses that store data online have exposure which includes most, if not all, of the small and mid-sized businesses that we serve. As a partner in their success, we want to help them mitigate this risk affordably."

The FrankCrum Enterprise Cyber Liability Program covers risks that standard business insurance policies omit, such as:

  • Privacy and loss of customer information
  • Data corruption or destruction
  • Network disruptions due to ransomware and/or malware
  • Human errors like phishing attacks and social engineering

The Program protects client companies from costs associated with actual or suspected violations of privacy regulations due to a security breach, resulting in the unauthorized release of protected personal information.

The coverage is written on a master policy and is underwritten by an AM Best "A" rated insurance carrier, AXIS Insurance Company, the specialty insurance business segment of AXIS Capital Holdings Limited ("AXIS Capital").

"There have been many high-profile incidents of cybercrime recently, and an untold number that never hit the news. It is a rightful source of stress for most business owners," said Crum. "As a PEO, we are always looking for ways to make work easier for our clients. Offering affordable cyber liability coverage does just that."

About AXIS Capital
AXIS Capital, through its operating subsidiaries, is a global provider of specialty lines insurance and treaty reinsurance with shareholders' equity at December 31, 2020 of $5.3 billion and locations in Bermuda, the United States, Europe, Singapore and Canada. Its operating subsidiaries have been assigned a rating of "A+" ("Strong") by Standard & Poor's and "A" ("Excellent") by A.M. Best.

FrankCrum
ABOUT THE AUTHOR
FrankCrum

FrankCrum is a professional employer organization (PEO), founded in 1981 dedicated to helping business owners boost HR capabilities and broaden convenient services and benefits to employees. The origin of FrankCrum dates back to 1981, when Frank W. Crum, Jr. and his father, Frank Crum, Sr., founded the Great American Temporary Service. With a passion for helping small business owners succeed, the company has evolved and grown over several decades.

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