Cyber insurance has become increasingly important in today’s digital age as cyberattacks continue to be a threat to businesses of all sizes. While most cyber insurance policies cover the costs associated with data breaches and other cyber incidents, many policies do not include professional liability coverage. This can leave businesses vulnerable to significant financial losses if they are sued by clients or customers as a result of a cyber incident.
Professional liability insurance, also known as errors and omissions (E&O) insurance, provides protection for businesses against claims of negligence or errors in the performance of professional services. This type of insurance is typically associated with professions such as lawyers, accountants, and healthcare providers.
With the increasing reliance on technology in many industries, professional liability coverage is becoming increasingly important. These cyber incidents can lead to claims of professional negligence, particularly if the incident results in a loss of data or financial harm to clients or customers.
When selecting a cyber insurance policy that includes professional liability coverage, businesses should work with an experienced insurance broker or agent who can help them identify the coverage options that best meet their needs. They can provide guidance on the appropriate policy limits and deductibles based on the size of the business and the level of risk associated with its operations.
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