Privacy Insurance

[INTLXS]

Anyone talking to clients about privacy insurance exposures? There are losses on a daily basis.

With the tightening of HIPAA regulations we should expect to hear about more of these. Since there is very limited coverage in the CGL there is a need for this coverage.

There is a product out there that starts at $375 for privacy liability.

Are you clients bringing this subject up? Anyone selling privacy liability?

Ken Kukral

 

[somarco]

Are you promoting something? If so, why not be open about it? You are not fooling anyone with this approach.

 

[GreenSky]

Are you promoting something? If so, why not be open about it? You are not fooling anyone with this approach.

He's fooling me!

Rick

 

[Oceanic01]

Well am equally looking forward to read any comment(s) on it as I thought of bringing the topic on board. Thanks so much for initiating it

 

[INTLXS]

Somarco,

FYI, I do have a product in this area, but that is not my reason for posting. I am looking to find out if this is truly an exposure clients are asking about or if agents are discussing this with clients.

There are 5 or 6 products out there to cover privacy exposures not including the cyber liability products that cover cyber privacy exposures.

My read on the current situation is that the need for the coverage needs to be addressed with clients and then sell them on the insurance and risk management solutions available. I believe it is an agent's job to help make clients aware of exposures for loss and help put solutions in place to help protect the clients assets.

That all being said, I am more interested in learning how agents are dealing with this issue or if it is such a minor or unimportant issue.

I am looking to become an expert in this coverage area and the only way I can do that is to find out more.

Sorry if you think I have ulterior motives but it is OK to ask questions.

 

[Crabcake Johnny]

it's minor and unimportant - next post.

 

[briko3]

I agree with Healthagent. No one's bringing it up and honeslty around here (SC), people just aren't worried at all about it. They dont' see the value and in all honesty, neither do I.

 

[somarco]

Privacy insurance may be a concern, but that is not the focus of most at this time.

Things on the radar right now have more to do with keeping their job if they have one, or finding one if they don't. Mr. Fixit in Washington doesn't get it and is showing his short attention span and incompetence by acting like he is still on the campaign trail, promising to bring change you can believe in.