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4 Tips to Sell Cyber to Small and Midsized Businesses

Your core clientssmall to midsized businessescomprised 31 percent of cyber attacks last year. Learn four quick tips to getting them the protection they need.

By Lisa Doherty, Todd Cusano | Updated on August 15, 2013

Lisa Doherty (pictured below) is president of Business Risk Partners. Todd Cusano is E&O Project Manager for Business Risk Partners.

Cyber liability insurance is growing by leaps and bounds—as fast as EPLI by some comparisons but in a fraction of the time. According to online information security provider Symantec, businesses of all size were a potential target for attackers in 2012. The largest growth area for targeted attacks—comprising 31 percent of all attacks last year—was with businesses having fewer than 250 employees. This represensts a huge opportunity for agents and brokers to sell cyber protection to small and midsized businesses. Yet cyber insurance is still a relatively new concept that suffers from a lack of standardization in language, coverage and endorsements, along with the confusing nature of the product itself. So as you approach customers in these markets regarding cyber coverage, keep in mind the following four points.

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