JOHNSTON, R.I., USA—AFM, a global leader in property insurance for the middle market, has introduced a unique endorsement, Cyber Optimal Recovery, which allows clients to maximize recovery following a cyber loss. The endorsement gives AFM clients the option to choose whether the insurer's proVision® 4100 policy is primary, contributing or in excess to a client's standalone cyber policy, in order to get the best recovery under both policies.
"Confusion is increasing in the middle market about how stand-alone cyber policies and all-risk property policies interact in the event of a cyber loss," said Mike Lebovitz, senior vice president of AFM. "This endorsement provides AFM clients contract certainty and the best claims recovery possible."
Additionally, AFM has expanded cyber coverage in its proVision 4100 policy to include satellite services as part of its off-premises data services coverage to provide clients with more comprehensive cloud coverage.
Specializing in property insurance for the middle market, AFM serves clients around the world, helping them identify, prioritize and reduce future loss in a practical and affordable way. AFM is a member of the FM Global Group, one of world's largest commercial and industrial property insurers.