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NAID/Brightstone Partner on improved Downstream Data Coverage® policy

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Dec. 1, 2016

A little more than four years ago, NAID unveiled Downstream Data Coverage® policy, which, for the first time, created a professional liability insurance policy that specifically addressed the risks associated with data-related services provider.  As a result, with Downstream, not only were service providers better covered, their customers were too.
 
But insurance is a little like fashion insofar as it never stops evolving. Risks change, bad guys develop new tactics, and technology advances. 
 
As a result, NAID has worked with Brightstone Insurance to update Downstream Data Coverage® to be the best insurance product of its kind for the data-related service provider.  It contains all the unique features of Downstream, but includes clearer language regarding claims resulting from data breaches and intentional acts of rogue employees. Downstream data policy also contains improved coverages for service providers against the growing number of data-related threats to their business.
 
The updated policy also contains expanded coverages for NAID members that provide all RIM services as well as members  providing electronic data destruction services.
 
“We are excited about the new partnership and what it means for NAID members,” says Brightstone’s Brian Jungeberg.  “With NAID’s unparalleled expertise in data protection and our extensive experience with the RIM industry over the last two decades, we’ve looked at this product from every angle.”
 
“While we are very happy to offer improved protection for members and their customers, I am also excited that we’ve taken a good sales tool and made it better,” added NAID CEO Bob Johnson. 
 
NAID and Brightstone have also worked hard to keep the premiums competitive with other less specific professional liability coverages and also to retain a Lloyds of London syndicate as the underwriter. Happily, those were both accomplished.  NAID AAA Certified Companies are currently eligible for Downstream Data Coverage.
 
NAID will be communicating directly with the scores of existing policy holders on how the transition will affect them.
 
For more information during the initial transition period, contact Bob Johnson at rjohnson@naidonline.org
 
Brightstone Insurance will serve as the official broker of Downstream Data Coverage® effective immediately.