CyberGuide - Information Security and Cyber Risk Management

Great American Insurance Group – Cyber Risk Division

Betty Shepherd
One Penn Plaza
New York, NY 10119
646.681.4980
eshepherd@gaig.com


About Great American Insurance Group – Cyber Risk Division:

Based in Cincinnati, Ohio, the operations of Great American Insurance Group are engaged primarily in property and casualty insurance, focusing on specialty commercial products for businesses, and in the sale of traditional fixed, fixed-indexed and variable-indexed annuities in the retail, financial institutions, broker-dealer, registered investment advisor and education markets. Great American Insurance Company has received an “A” (Excellent) or higher rating from the A.M. Best Company for more than 110 years (most recent rating evaluation of “A+” (Superior) affirmed September 11, 2019). Great American’s Cyber Risk Division is focused on providing stand-alone cyber insurance solutions to companies and organizations in the small-medium enterprise (SME) space which we define as under $250MM in revenues. Our principal offerings include both primary (admitted and surplus lines) and excess products (follow form), each at up to $5M in limits. Our team has deep experience not only in Cyber, but, also in many of the segments where it’s cross sold, which enables Cyber Risk Division to effectively share cyber expertise across various Great American specialty P&C divisions. Products are available nationwide and are distributed by retail agents and wholesale brokerages. Great American recently launched a new admitted cyber risk insurance product, the Risk e-Business Cyber Loss & Liability Insurance PolicySM. With two insuring agreements and only 13 exclusions, it’s cyber coverage made simple.

Survey Answers

Target Client Size
up to $250M
Does US business in
Northeast, Southeast, Midwest, Southwest, West
Does international business in
Canada
Primary Service Offering
Insurance Carrier
When did your company start writing standalone cyber insurance policies?
2008
What are your company’s cyber insurance direct written premiums?
$10M to $25M
What percentage of your cyber insurance direct written premiums come from standalone policies and endorsements?
Standalone 91 - 100% | Endorsement 0 - 10%
What percentage of your cyber book of business is primary and excess?
Primary 91 - 100% | Excess 0 - 10%
How many dedicated cyber insurance underwriters of standalone does your company have?
6-10
How many cyber-related claims did your company handle in 2019?
76-100
What percentage of your cyber-related claims were covered by standalone cyber policies and other lines business?
Standalone 91 - 100% | Other Lines 0 - 10%