What Does Cyber Insurance from Founder Shield Cover?

Founder Shield is a retail insurance brokerage, described on its site as “the innovation arm of The Baldwin Group,” and places Founder Shield Cyber Liability Insurance with third-party carriers rather than underwriting the policy itself. ²Company-reportedAbout-us page; applies to Founder Shield's brokerage model generally, restated here for this line.

Founder Shield says it places policies, including Founder Shield Cyber Liability Insurance, only with carriers rated A- or better by AM Best, chosen for the client's industry. It does not name the issuing insurer for this line; that depends on which carrier the policy is placed with. ³Company-reportedGeneral carrier-selection FAQ, not specific to this line's placements.

Founder Shield calls cyber coverage a priority for healthcare, financial services, SaaS and e-commerce companies, citing their exposure to data breaches and business interruption. ¹Company-reportedCyber Liability product page.

Founder Shield lists loss or damage to electronic data, income loss and extra expense from a system outage, cyber extortion payments, and breach-notification and reputation-management costs as the branches of cyber coverage it places. ¹Company-reportedProduct page; the issued policy and declarations control actual coverage.

Founder Shield says cyber policies typically exclude loss of value from stolen IP, internal technology system upgrades, and possible future lost profits. ¹Company-reportedProduct page; specific exclusions depend on the issued policy.

You request Founder Shield Cyber Liability Insurance through Founder Shield's website or an insurance advisor rather than binding coverage directly; Founder Shield says its placement team then approaches carriers on the client's behalf. ^2,3Company-reportedAbout-us and carrier-selection pages describe the general placement process, not a line-specific application form.