Farmers Insurance Offers New Cyber Liability and Data Breach

Farmers Insurance Offers New Cyber Liability and Data Breach Coverage
Program for Main Street Businesses in New Mexico 
LOS ANGELES, CA -- (Marketwire) -- 01/18/13 --  Farmers Insurance
Group(R) of Companies has introduced, and will be offering, a new
Cyber Liability and Data Security program to protect main street
businesses in New Mexico. 
Farmers explains that there is no question that incidents of cyber
liability and data security breaches are on the rise. The cost of a
security breach today can have a devastating impact on businesses and
that is why we felt it important to provide this coverage.  
The coverage will be offered as an option for all Business Owner
Policy (BOP) industries with a modified premium less than $50,000 in
New Mexico.  


 
--  The coverage is optional for all new Business Owner Policies, with an
    effective date of January 1, 2013.
--  The coverage is optional for all renewal Business Owner Policies with
    an effective date of March 1, 2013.

  
There are federal and state reporting obligations required by law and
the dissemination of personal information as a result of a breach can
also expose a business to third party liability, Farmers Insurance
notes. That's where Farmers Cyber Liability and Data Breach expense
coverage can help. 
Farmers Cyber Liability and Data Breach Expense coverage offers:  


 
--  $50,000 aggregate annual limit
--  $2,500 self-insured retention
--  Third party liability coverage
--  Privacy breach response services including customer notification and
    forensic and legal assistance
--  Extended reporting period available
--  Free data security risk management services through FarmersCyber.com

  
Farmers Insurance Group of Companies is a leading U.S. insurer of
automobiles, homes and small businesses and also provides a wide
range of other insurance and financial services products. Farmers
Insurance is proud to serve more than 10 million households with more
than 20 million individual policies across all 50 states through the
efforts of over 50,000 exclusive and independent agents and nearly
24,000 employees. 
Farmers is a trade name and may refer to Farmers Group, Inc. or the
Farmers Exchanges, as the case may be.  Farmers Group, Inc., a
management and holding company, along with its subsidiaries, is
wholly owned by the Zurich Insurance Group. The Farmers Exchanges are
three reciprocal insurers (Farmers Insurance Exchange, Fire Insurance
Exchange and Truck Insurance Exchange), including their subsidiaries
and affiliates, owned by their policyholders, and managed by Farmers
Group, Inc. and its subsidiaries. For more information about Farmers,
visit its Web site at www.farmers.com or at
www.Facebook.com/FarmersInsurance. 
Contact: 
Jerry Davies
213-400-4459
Jerry.davies@farmersinsurance.com 
 
 
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