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MAPP Plastics Discussion Forum

The MAPP Plastic Industry Discussion Forum allows members to rapidly communicate with each other. Post both questions and answers to questions that other MAPP members have about any industry topic from material and process issues to R&E Tax Credits and other business issues.

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Plastic Industry Forum - Converse with Plastics Processing Leaders / Business / Cyber Insurance Coverage - who has taken out a policy?
Posted:  12 Jan 2016 23:34
We received a quote from our insurance agency on Cyber insurance coverage for around $2,300 for $1 million in basic coverage with a $10,000 deductible, and we're wondering if this is worth the cost. Please comment if you have Cyber insurance or are considering it.

Joy Hertlein
Posted:  14 Jan 2016 17:05
Joy,

PTG discussed Cyber Insurance coverage with our insurance provider last week.  I'm going to review with our IT provider to decide if it's something we should consider.  Can you please share your findings from others with PTG?

Thank you.

Kindest regards,  Brendan

Brendan Cahill
Posted:  22 Jan 2016 00:27
Brendan,
Our agent shopped around for coverage, and all other quotes for coverage were more expensive.  I don't have copies of multiple quotes, only the one we are considering that covers Security Event Costs, Network Security and Privacy Liability Coverage, and Employee Privacy Liability Coverage.  The $1 million in coverage also has a policy sublimit of $250,000 for Public Relations expenses.

Joy Hertlein
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