AFM continuing to innovate: Broadened cyber coverage among many policy enhancements

Coverage options have been enhanced and broadened with several policy updates and a unique Cyber Optimal Recovery endorsement.

proVisionAt AFM, we continually look for ways to improve our products and services. That's why, on Jan. 1, 2017, we introduced several coverage enhancements to our proVision 4100 policy and as well as a new Cyber Optimal Recovery endorsement. We think these enhancements, which were developed as a direct result of feedback provided by our broker partners, will add tremendous value for clients.

Expanded cyber coverage
We are improving our cyber solutions by broadening coverage in our proVision 4100 core form to apply on a worldwide* basis. This will allow your client to have coverage for their data in the "cloud" in more territories than ever. Most third-party policies have localized territories that can greatly restrict where the coverage is afforded to the client; however, the "cloud" is a vast network that stretches to almost any territory. The voice, data, and video coverage that had been embedded in the Off Premises Service Interruption Coverages is now split out from this coverage and stands on its own, with its own coverage clause and limits protecting the client from loss of off-premises data processing and transmission services. In addition, we are including satellite services in this coverage, again providing our clients with true "cloud" coverage.

Other policy updates
Other policy updates include moving Communicable Disease (PD and BI) from industry-specific endorsements to the core form for all clients. Also, downzoning and rezoning coverages have been moved from industry-specific endorsements to the core form at policy limits under the Demolition and Increased Cost of Construction coverage.

Introducing a unique cyber endorsement
The Cyber Optimal Recovery endorsement, explained in this three-minute video, helps clients maximize recovery from a cyber-related loss if they have a separate policy with cyber coverage in addition to the proVision. This endorsement allows your clients to position their proVision policy in a primary, excess or contributing insurance position as necessary to achieve the best recovery possible in the event of a loss. This endorsement is similar to our BI Select coverage, in the sense that it gives the insured the flexibility to choose how to apply the coverage after the loss.

A long-term partner
Even though our policy was completely updated less than two years ago, we continue to look for ways to improve our coverage. We think these enhancements will add a lot of value for you and your clients. Our goal is always the same, to partner with you to help clients achieve a long-term competitive advantage.

For more information about the proVision 4100, read Easy to Read, Navigate, Sell, an enVision article from 2015.

For more information about the 2017 updates, consult your production underwriter. AFM account team members have a number of resources to help you explain these new coverage offerings to your clients. Slip sheets for the core form, endorsements and cyber coverage are available on AFM Online.

*With the exception of Cuba, Iran, North Korea, Sudan, Syria and the Crimea Region of Ukraine.

Note: This information does not constitute, replace or supplement policy language. The liability of AFM is limited to that contained in its insurance policies.