To meet the growing demand for property and casualty products and cyber liability insurance, Ullico Casualty Group, Inc. has added two product lines to its offerings.
"We're excited to announce our new insurance products for the union market," says Edward M. Smith, President and CEO of Ullico Inc. "Our policyholders and brokers have been calling for more insurance products tailored to their needs, and we are responding."
Trust funds and unions have access to the personal information of their participants and members. If this data is lost or compromised, most states mandate that the entity respond in a timely manner by notifying potentially affected individuals, regulators, and the press. Stand-alone Cyber Liability insurance coverage from Ullico Casualty Group responds to both first and third-party claims in the event of a data breach.
"No one thinks a breach will happen under his or her watch, but then it does," says Bill Cavanagh, President of Ullico Casualty Group. "It could be from hackers intentionally trying to steal data, or someone losing a laptop with personal information on it. In either scenario, our new Cyber program provides both the liability insurance and the risk management services needed to properly respond."
Limits of liability range from $250,000 to $2M on a short, two page application. Higher limits are available upon request. Proprietary rates and forms with Barbican, a Lloyd's of London syndicate.
While property and casualty lines can be commodity products, not all products are the same. Ullico Casualty Group's Commercial Lines insurance is specially designed for union halls, trust fund offices, joint apprenticeship training committees and other union-related entities.
"To provide the right coverage, insurance providers have to understand what their policyholders do and what risks they face," says Bill Cavanagh. "Ullico understands the labor market better than anyone. We know the commitment to safety that is inherent in the union workplace and how to create a competitive program around that commitment."
Ullico Casualty Group partners with K&K Insurance Group, Inc. to offer coverage provided by National Casualty Company, Scottsdale Indemnity Company, AmTrust North America, and Seneca Insurance Company, admitted carriers rated "A" (Excellent) or higher by AM Best as of 9/30/2015.
Ullico Casualty Group is the risk solutions provider for the Union workplace, and we constantly evolve to meet the growing needs of our market. From offering Investigatory Expense coverage on our flagship Fiduciary Liability product to answering the growing demand for Cyber protection for our insureds, Ullico Casualty Group provides cutting edge insurance policies for unions and multiemployer benefit funds.
For more information on Ullico Casualty Group, please visit www.ullico.com/casualty or call 888.315.3352.
For more tips, visit: sba.gov/content/top-ten-cybersecurity-tips