AT&T, Lockton and CNA are involved in a new strategic alliance designed to sell cyber insurance policies.
The deal is between AT&T’s new wholly owned subsidiary, AT&T Insurance Agency LLC, Lockton Affinity and CNA. Customers of AT&T Managed Cybersecurity Solutions can buy the policies, which will be underwritten by CNA, with Lockton Affinity serving as the insurance broker.
This strategic alliance is designed to give AT&T Business customers access to a full range of cyber risk management products and services to help them holistically measure, mitigate, monitor and transfer cyber risk, including options for broad cyber insurance through CNA.
Dubbed CNA Epack Extra, the main policy may cover from $250,000 up to $10 million of qualifying expenses, such as certain costs associated with business interruption and extra expense, network security liability, privacy injury liability, data restoration, network extortion expense, privacy regulatory civil fines, sanctions or penalties, and privacy event expenses, according to the alliance announcement.
When small to midsize businesses purchase threat detection and response tools from AT&T, they will be eligible to apply for this coverage through Lockton Affinity. The resulting CNA insurance policy is designed for small and midsize businesses across the key cybersecurity disciplines: prevention, detection, response and recovery.
Source;:AT&T, CNA, Lockton