This week we announced Cowbell’s Prime 100 as an admitted program in California. Prime 100 is a standalone cyber insurance product that Cowbell introduced in the market in January. Below you’ll find a summary of what it includes as well as recent Prime 100 coverage expansions that are also immediately available in California: 

Prime 100 already includes the following coverages: 

  • Security Breach Expense
  • Security Breach Liability
  • Extortion Threats
  • Restoration of Electronic Data
  • Business Income and Extra Expense
  • Public Relations Expense
  • Computer and Funds Transfer Fraud 

Details on the above are available in our initial Prime 100 blog

Additional updates include: 

Business Income and Extra Expense: The sub-limit for this coverage can go up to $1m.

Social engineering: This coverage can be added to new or existing policies with a limit up to $250,000. This endorsement complements the Computer and Funds Transfer Fraud coverage. Read our recent announcement for additional information. 

Ransom Payments: In California, Prime 100 comes with a ransom payment expansion to complement our existing Extortion Threats coverage. This endorsement is designed for the reimbursement of the monetary value of any ransom payment made by the insured to a third party in response to a ransom demand to resolve an extortion threat.  

Three new endorsements are also being added: Hardware Replacement Costs, Post Breach Remediation Expenses and Telecommunications Fraud. Contact us at [email protected] if you are interested in more details on those.  

California is one of the largest markets for small cyber with more that 4m small businesses operating in the state. Small businesses have two compelling reasons to subscribe to a standalone cyber insurance policy in California:  

We are aggressively adding new states to the current list where Prime 100 is admitted: Arizona, California, Colorado, Illinois, Nevada, Oregon. Contact us to discuss priorities, class of business supported or any other program that you are interested in.  

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