Property-casualty broker NFP has announced the launch of DigitalShield, an exclusive personal cybersecurity solution for the US market.
“The latest data from the FBI's 2022 Internet Crime Report illustrates that the potential total loss from cyberattacks increased from $7 billion to over $10 billion in one year,” said Brett Woodward, managing director of personal risk at NFP. “As the sophistication of cyberattacks deepens, DigitalShield can help prevent losses to individuals and their families across all aspects of their lives that cyber incidents can disrupt.”
DigitalShield includes eight cyber and social engineering coverages:
The coverage is available at a starting cost of $200 per year, with policy limits ranging from $100,000 to $1 million. Individuals can purchase the coverage through NFP's digital platform in less than five minutes via the DigitalShield website.
In addition to providing financial protection against cybercrime and social engineering scams, DigitalShield offers round-the-clock support for customers seeking guidance on their cyber risks and proactive measures to ensure protection.
“When people hear about cyber insurance, they often think of business coverage because personal coverage has not traditionally been available to the general public,” said Mila Araujo, NFP assistant vice president of personal cyber, North America. “So we developed a custom, standalone product, specifically for individuals, to respond to our clients' needs. Whether your savings and investment accounts have been compromised, your identity has been stolen, or your children are impacted by cyberbullying, DigitalShield protects your family, home, and lifestyle. And it also provides 24/7 support to help with any emerging cybersecurity concerns or questions you may have.”
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To enhance the DigitalShield offering, NFP has partnered with CyberScout, a claims management provider specializing in cybersecurity. This collaboration ensures that DigitalShield customers receive support in various cyber scenarios, offering cyber planning, preparedness, and round-the-clock customer assistance, NFP said.
DigitalShield is available in the US (except Kansas and Kentucky) and Canada (excluding Quebec). NFP's DigitalShield policy is underwritten by certain underwriters at Lloyd's of London.
NFP recently announced plans to acquire Actuarial Consulting Group (ACG) and ACG Advisory Services. The company also recently announced the appointment of Hamid Abuzaid as leader of its new Occupational Health & Safety group.
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