An effective way to provide your business with the most coverage at a reduced, package rate. A ‘BOP’ has the flexibility to expand as your business grows and your insurance needs change.
The BOP bundles coverage for property, general liability, business interruption, crime,
and a broad array of coverage extensions such as accounts receivable, advertising injury, data breaches, glass breakage, signs, and equipment breakdown.
Included in the Property coverage section of a Business Owner’s Policy is Business Income and Extra Expense, also known as Business Interruption Insurance:
- Business Income: Provides coverage for loss of business income that results from a fire or other covered loss that disrupts the operation of your business.
- Extra Expense: Covers the extra expense incurred to continue operations in the event of a covered loss to your property, such as a need for a temporary location, additional temporary staff, and other additional expenses affected by a covered loss.
No one is immune from hacker attacks
While it may be tempting to think, “Only big companies get hacked,” nothing could be further from the truth. Businesses of all sizes are infiltrated. Today, cybercriminals are using artificial intelligence to randomize their attacks making everyone a target.
- 58% of cyberattacks target small businesses1
- Cybercriminals often go after small businesses because they are easier to infiltrate1
- 48% of breaches involve hackers, 30% involve malware inserted onto your systems1
- 60% of small businesses do not have the resources to recover from a cyberattack2
The average cost for a small business to clean up after a cyberattack is $690,000 and for mid-sized companies, it is over $1 million.3 When you consider the cost of a potential claim versus the cost of cyber liability, the choice should be obvious.
1 “2019 Data Breach Investigations Report,” Verizon, May 2019.
2 Matthew Chevalier, “Small and Mid-Size Businesses Need to Focus on Cybersecurity,” Security, July 5, 2018.
3 ”2017 Cost of a Data Breach Study,” Ponemon Institute, June 2017.
Data Risk Liability and Defense Coverage
If a privacy data breach results in allegations of negligence and litigation, Aon CyberBusinessProsm offers cyber liability protection, including coverage for claims expenses and defense costs.
Extensions of coverage include:
AonCyberBusinessProsm offers three levels of coverage:
- Loss/theft of personal and/or business data
- Forensic investigation
- Notification costs
- Credit monitoring
- Regulatory fines and penalties
- Failure to disclose/notify per breach notification laws
- Cyber extortion
- PCI fines
- Public relations
- Media liability and more
| Aon Cyber 250
||Aon Cyber 500
||Aon Cyber 1000
Workers’ Compensation helps pay for medical expenses and wage replacement for employees who suffer from a job-related accident or illness.
Workers’ Compensation laws and rates are regulated by your state’s Workers’ Compensation Bureau. In some states Workers’ Compensation is required if you have a single employee. In other states it is voluntary. The laws governing coverage for owners, independent contractors, subcontractors, volunteers, and part-time employees vary by state.
Speak with a licensed broker to learn about the Worker’ Compensation coverage available in your state.
Other available business insurance policies include:
- General Liability
- Commercial Automobile
- Commercial Liability Umbrella
- Directors & Officers Liability
- Inland Marine
- Employment Practices Liability
Breach Services and Remedies with Incident Response On-Demand™
All 50 states in the U.S. have enacted legislation requiring the notification of individuals affected by a privacy data breach.
To assist with remediation, Aon CyberBusinessPro includes 24/7 Incident Response On-Demand that provides access to important resources and remedies. This elite response service includes:
- Incident analysis
- Response strategy
- Customer notification preparation, address verification, printing and mailing
- Customer service
- Incident hotline
- Fraud victim resolution services
When combined with other insurance coverage intended for forensic expenses, notifications, legal fees, credit monitoring and more, your peace of mind is supported, while your breach risks are mitigated.
Risk Management Resources with Breach Protection
Aon CyberBusinessPro helps you prevent a privacy data breach by providing you with resources to act proactively, allowing you to put systems and procedures into place to help reduce your exposures.
Human Resources Module: Online Education
Information Security Module
- Privacy and security related
- Modules for managers and employees
- Simple access codes for self-administration
Information Technology Module
- Guides, templates and self-assessments
- Tools to help manage and mitigate your information security risks
- 10 small business policy templates, such as a security policy for compliance purposes
||Aon Cyber 250
||Aon Cyber 500
||Aon Cyber 1000
|Internal Vulnerability Scans
|Mobile Security App
|CyberEdge Risk Hub
|CyberEdge Risk Tool