PAK gets Great American capacity for new cyber program

By Chris Munro

May 14 - (The Insurer) - PAK Programs has secured capacity from AM Best A-plus rated Great American Insurance Companies to offer its brewery, winery and other alcoholic beverage industry clients enhanced cybersecurity coverage.

Cedar Knolls, New Jersey-based PAK said the new coverage aims to provide insureds with the resources needed to respond to and recover from an array of leading and emerging cyber threats.

Through PAK, alcoholic beverage manufacturers and distributors can secure coverage for data compromise response expenses, cyber extortion, privacy incident liability, network security liability and reward payments.

“Evolving technologies such as artificial intelligence (AI) are becoming more sophisticated and accessible to bad actors, increasing the risk of cybercrime for businesses,” said Larry Chasin, CEO of PAK Programs.

“For alcoholic beverage manufacturers and distributors, a cyber incident can lead to a breach of personal information, extensive business interruption, substantial financial losses and more.

“With the expansion of this enhanced cyber security coverage, we can now provide business owners with comprehensive, vital protection in addition to the longstanding industry expertise that PAK Programs is known for,” Chasin added.

PAK Programs was founded in 1996 as Liquor PAK, a specialty wine and liquor store insurance program.

Since then, the program administrator has brought affiliated offerings to market including Brewery PAK, Distillery PAK, Meadery PAK and Cider PAK, and specialist coverages for importers and distributors, liquor stores and wineries.