Question
Should cyber liability coverage be included automatically in our small business insurance bundles, with the option to opt out?
Background
Small businesses face rising ransomware and data breach risks, but many do not think to purchase cyber coverage. Including it by default could improve protection but may increase premiums and lead to complaints from cost-sensitive customers.
Options
- Include cyber coverage by default in all small business packages.
- Offer cyber coverage as an optional add-on during purchase.
- Create a separate cyber-only policy marketed to high-risk sectors.
- Make no changes to our current product lineup.