Understanding the Risks
ERO Cyber Security Risk Management Website provides Online risk management tools, procedures, and training to help policyholders and their workforce understand data security risk and how to best mitigate and prepare for a breach.
A policy holder has unlimited access to:
Federal and state compliance materials regarding data Security, data breaches, and data privacy, including:
Including, but not limited to:
Procedures and online forms to help you:
Information you need to:
Understanding The Coverage
We are offering a comprehensive cyber liability protection solution for professional tax preparers.
Our solution provides:
Coverage for claims alleging liability resulting from the dissemination of online or offline media material, including claims alleging copyright/trademark infringement, libel/slander, plagiarism, or personal injury.
Coverage for claims alleging liability resulting from a security breach or privacy breach, including claims alleging failure to safeguard personal information.
Coverage for regulatory fines and penalties and regulatory compensatory awards incurred in privacy regulatory proceedings/investigations brought by federal, state, local, or foreign governmental agencies.
Coverage for assessments, fines, or penalties imposed by banks or credit card companies due to non-compliance with the Payment Card Industry Data Security Standard (PCI DSS) or payment card company rules.
Coverage for net profit incurred as a direct result of an adverse media report or breach notification following a security breach or privacy breach.
A 2-week waiting period applies.
Coverage for extortion expenses incurred and extortion monies paid as a direct result of a credible cyber extortion threat, including ransomware.
Coverage for reasonable and necessary mitigation costs and expenses incurred as a result of a privacy breach, security breach or adverse media report, such as legal expenses, proactive and reactive public relations expenses, IT forensic expenses, breach notification costs (including voluntary notification costs), and the cost to set up call centers and provide credit monitoring and identity theft assistance.
The Breach Event Costs Limit is in addition to, and will not reduce, the $100,000 Annual Aggregate Limit of Liability.
Coverage for (1) reasonable and necessary amounts incurred to recover and/or replace electronic data that is compromised, damaged, lost, erased, corrupted or stolen and (2) business income loss and interruption expenses incurred due to an unplanned outage, interruption, failure, suspension, or degradation of service of an insured computer system, including any such incident caused by a hacking attack.)
An 8-hour waiting period applies to Business Interruption coverage.
Covers income loss and interruption expenses incurred in the event that the computer system of an IT service provider or business process outsourcing provider goes down.
A 12-hour waiting period applies to Business Interruption coverage.
The coverages listed above are limited to $100,000 per claim and in the aggregate. ERO cyber security insurance has a maximum annual aggregate limit of $200,000.
ERO Cyber Security insurance is being offered as a unique benefit to American Advantage Association members. The insurance is underwritten by Tokio Marine HCC - Cyber & Professional Lines Group and secured by Houston Casualty Company. Claims will be handled by Tokio Marine HCC - Cyber & Professional Lines Group, based in Los Angeles, CA.
In addition to the base options you can apply for higher amounts of coverage
As explained above, we have thoughtfully designed our ERO Cyber Security base plan to be a comprehensive cyber liability solution for the majority of our tax professional clients. It’s our goal to continue to find ways to keep you, your employees and your business feeling protected and prepared. For offices that feel they need more coverage than what is provided in our standard Base Program we, in partnership with Tokio Marine HCC - Cyber & Professional Lines Group, offer 3 higher limit options in addition to your base coverage.
To learn if you qualify for one of our higher limit options, please read our program qualifications. Use the buttons below to learn more about the higher limit options we offer. To apply for a higher limit option, download the application here and email the completed application to, steve@taxprotectionplus.com. If you have any questions, please call 855-406-5527.
Tokio Marine HCC is a leading specialty insurance group with offices in the United States, Mexico, the United Kingdom and continental Europe, transacting business in approximately 180 countries and underwriting more than 100 classes of specialty insurance.
For over 30 years, the American Advantage Association has been committed to working with member companies in identifying enhanced administrative processes, staying current on regulatory issues, developing customer affinity solutions and product enhancements.
With over 10,000 tax professional members, we have a keen understanding of the issues impacting the professional tax preparation industry. In response to the growing number of data breach incidents, warnings issued by the IRS and concerns expressed by our professional tax preparer members, we developed this cyber security solution specifically for professional tax preparers.
Even if you do not experience a data breach, as an Organization Member of the American Advantage Association, your tax business will receive access to free and discounted small business legal services through Legal Club of America. These services address nearly any legal business matter you may confront.
When a breach occurs
Report Incident
Legal review and forensic investigation.
Notification and credit monitoring
Data recovery and business interruption expenses
Public relations
Class-Action Lawsuit
Regulatory Fines
Pentalies & Consumer Redress
Reputational Damage
Income Loss
How did we get here
In response to the growing number of data breach incidents, warnings issued by the IRS and concerns expressed by our over 10,000 professional tax preparer members, the American Advantage Association set out to offer a cyber security solution designed specifically for professional tax preparers.
Phone:
855-406-5527
Address:
P.O Box 24279
Winston-Salem, NC 27114
Subject to the limits of liability and retention specified in the Schedule, the Company will pay:
Subject to the limits of liability and retention specified in the Schedule, the Company will pay:
Subject to the limits of liability and retention specified in the Schedule, the Company will pay:
Subject to the limits of liability and retention specified in the Schedule, the Company will pay reasonable privacy breach response costs, notification expenses, and/or customer support and credit monitoring expenses which you incur during the POLICY period as a direct result of an adverse media report, security breach or privacy breach, provided that:
Subject to the limits of liability and retention specified in the Schedule, the Company will reimburse you for your provable and ascertainable brand loss, which you sustain during the period of indemnity, but after the waiting period, as a direct result of an adverse media report or notification, provided that:
Subject to the limits of liability and retention specified in the Schedule, the Company will reimburse you for digital assets loss and/or special expenses which you incur during the POLICY period as a direct result of damage, alteration, corruption, distortion, theft, misuse, or destruction of digital assets, provided that:
The Company will pay digital assets loss and/or special expenses for a period of up to twelve (12) months following the discovery of the damage, alteration, corruption, distortion, theft, misuse, or destruction of digital assets.
Subject to the limits of liability and retention specified in the Schedule, the Company will reimburse you for income loss, interruption expenses and/or special expenses which you incur during the period of restoration, but after the waiting period, as a direct result of a total or partial interruption, degradation in service or failure of an insured computer system, provided that:
Subject to the limits of liability and retention specified in the Schedule, the Company will reimburse you for cyber extortion expenses and/or cyber extortion monies that you pay as a direct result of a cyber extortion threat, including a demand for cyber extortion monies, provided that:
Cyber extortion expenses and/or cyber extortion monies shall not be paid without the Company’s prior consultation and written authorization. You must make every reasonable effort to notify local law enforcement authorities and the Federal Bureau of Investigation, or similar equivalent foreign agency, before surrendering any cyber extortion monies in response to a cyber extortion threat.
Subject to the limits of liability and retention specified in the Schedule, the Company will reimburse you for income loss, interruption expenses, and/or special expenses which you incur during the period of restoration, but after the waiting period, as a direct result of a total or partial interruption, degradation in service, or failure of an insured computer system, provided that:
Subject to the limits of liability and retention specified in the Schedule, the Company will pay:
The following nine services are available at no charge from your plan attorney.
*In certain situations, attorney liability may require plan attorneys to ask for a retainer from the member prior to providing some of the free legal services.
Guaranteed Low Hourly Rates*
Plan attorneys have contracted to charge no more than $125.00 per hour, or 40% off their usual and customary hourly rate, whichever is greater, for legal care that goes beyond the free and discounted services.
Retainers*
In the case of extended legal care, plan attorneys may ask you for a retainer. Any retainer sought will be computed by multiplying the number of hours a plan attorney believes a case will take, by the appropriate discounted hourly plan rate. For instance, 10 hours x $125.00 = a retainer of $1,250. Any unused portion of the retainer will be returned to the member.
*Court costs, filing fees and time charged for travel to and from any courts are additional.
Contingency Fee Discounts*
Attorneys often work on a contingency fee basis on such cases as personal injury and collections. This fee is usually expressed as a percentage of the amount collected or awarded. In collection matters, your attorney will accept 18% if the case is settled before formal court proceedings begin. After proceedings begin, the fee is 27%. On all other contingency matters there is a 10% discount on the lower of either the state maximum or the attorney’s standard rate.
*Court costs, filing fees and time charged for travel to and from any courts are additional.
Based on the answers to these questions, you do not qualify for this coverage.
Over 30,000 organizations have been affected by the recent Microsoft Exchange Server vulnerability announced last week. Experts have learned that, after accessing the victim’s environment, criminals leave behind a web shell or back door, a hacking tool that can be used by the criminal to subsequently access the same environment. Critically, the criminal’s web shell remains even after the Exchange Server is patched with the latest Microsoft updates. Therefore, all Exchange servers should be inspected for signs of unauthorized access and any web shells must be removed.
Here’s what you need to do.
STEP ONE: Patch first!
All Exchange servers should be patched immediately to address the four identified vulnerabilities.
STEP TWO: Investigate whether you’ve been compromised
Review Microsoft’s advice and download the Microsoft Safety Scanner (a Microsoft-developed scan tool), launch the program, agree to the license agreements, and click the “Full scan” option. This tool will automatically delete any detected files and not quarantine them. Once the scan is complete, the tool will report the deleted files. When done using the scanner, uninstall the tool simply by deleting the msert.exe executable. Importantly, this tool is only used to spot scans and should NOT be relied upon as an antivirus program.
This program is intended to cover 1 Electronic Filing Identification Number (EFIN) per enrolled business. A separate enrollment is required for each EFIN.
This program is not available to:
Please click below to confirm these do not apply to your business. (misrepresentations will result in a denial of protection and services)
This program is intended to cover 1 Electronic Filing Identification Number (EFIN) per enrolled business. A separate enrollment is required for each EFIN.
This program is not available to:
Please click below to confirm these do not apply to your business. (misrepresentations will result in a denial of protection and services)
This program is not accepting new enrollments at this time.
Coverage cannot be bound under this program for Applicants who do not meet the program qualifications; however, such Applicants can be considered for coverage outside the program.