About This Episode

As CEO of USI Affinity and Programs (2004-2018), Doug led affinity business development, marketing and program businesses, including professional liability, commercial property & casualty, personal lines and life and disability programs.

In 2018, Doug founded a cybersecurity and data privacy risk consulting firm. It was through his consulting practice that he learned the value that MSPs bring to small and medium-sized businesses.

That insight formed the basis for SeedPod Cyber, a cyber insurance managing general agency Kreitzberg founded in 2021 which partners with MSPs to provide cyber insurance to their clients.

1:49 Doug gives a brief recap on how he started in technology and insurance, then ended up running an organization. He also shares some reasons why Seedpod got created, the company’s goals in providing better insurance coverage with a competitive price, and businesses that use their services.

5:50 Brian asks how to define if a company is over-insuring or under-insuring, in which Doug answers that two areas come into play when figuring out which insurance is better suited 1. Liability and 2.Cost of System Restoration. He also expounded on each point and gives examples of real-life situations.

14:20 How do people best protect themselves against attacks and what does it look like in the insurance industry? Doug answers Brian’s question by saying that when it comes to MSP, it’s always related to aggregation risks. There are several aspects to dealing with these situations, technical standpoints and contractual aspects. He elaborates that the relationship that you have with your client, account management, and trust is very critical when an event occurs. 

20:35 Robb expresses his opinion on how smart and how good of an idea Doug’s company does. He explained that usually when there are problems or stressful situations, the first thing we ought to do is to just jump in and fix the problem but now he realized that it’s equally/more important to step back and call the insurance provider to avoid further damage.

22:07 Brian poses his last question about the state regulations impacting the premiums. Doug answers that state regulations are actually favorable however the new privacy regulation is still under heat.