Great American Insurance Group launches streamlined cyber product for small and medium-sized businesses

Property and casualty insurer Great American Insurance Group has launched a new admitted cyber risk insurance product, the Risk e-Business Cyber Loss & Liability Insurance Policy. With two insuring agreements and only 13 exclusions, it aims to make cyber coverage simple.

Betty Shepherd, divisional senior vice president of Great American Cyber Risk, said the product is easy for agents to explain and easy for insureds to understand.

“Traditional cyber products can get complicated quickly,” she said. “Great American’s cyber product is designed for small and medium-sized businesses, and we’ve worked hard to keep it simple.”

With limits up to $5 million available to companies with up to $250 million in annual revenue, Great American’s Risk e-Business Cyber Loss & Liability Insurance Policy is available to a broad range of targeted classes. Additionally, Great American’s Risk e-Business policy includes incident consultation coverage.

Based in Cincinnati, Ohio, the operations of Great American Insurance Group are engaged primarily in property and casualty insurance, focusing on specialty commercial products for businesses, and in the sale of traditional fixed, fixed-indexed and variable-indexed annuities in the retail, financial institutions, broker-dealer, registered investment advisor and education markets.

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