Errors & Omissions (E&O) is the liability insurance that covers your company in the event that a client alleges an error or negligence and intends to hold you responsible for a service you provided (or failed to provide) that did not have the expected or promised results. For some professions this may be referred to as malpractice insurance, often reserved for specific professions including accountants, doctors, and lawyers.
FAQs
E&O Insurance
- What is E&O Insurance?
- Who needs E&O Insurance?
- When should you buy E&O Insurance?
- Why choose E&O from ProWriters?
E&O insurance is for any business that provides a service. This not only includes doctors, lawyers, accountants, architects and engineers, but hundreds of other contract businesses like software developers, consultants, real estate agents, etc.
You should purchase E&O insurance before taking on the risk. It should be part of your cost of doing business and is often required in a contract or can be viewed as a selling point to attract new customers.
ProWriters’ underwriters have averaged 15 years serving the E&O marketplace. We have underwriting authority for several insurance companies as well as brokerage arrangements with several others in the event that we are unable to underwrite the risk ourselves.
Cyber Insurance
- Who needs cyber & privacy liability insurance and what does it cover?
- How do I talk to my clients about cyber insurance?
- What is the best way to compare cyber insurance options?
- What are some common cybersecurity myths you hear?
- How can my clients protect against Social Engineering Attacks?
- Can you give me some claims examples to show my clients?
- Where can I find educational material for myself and clients?
- What exactly is a Phishing email?
- How can my clients vet their 3rd party vendors?
- What are some of the top cyber threats?
- Does a CGL policy cover cyber?
- What is PCI compliance?
- Is cyber insurance really worth it?
- What is GDPR?
- My client takes credit cards – what do I need to know?
Any business that uses a computer should have Cyber Insurance. It used to be more for businesses that held Personally Identifiable Information (PII) including credit cards, checks, social security numbers, bank information, drivers licenses, medical information covered under HIPAA, or confidential corporate information. The insurance covers the 1st party costs of IT forensics, notifying customers affected, credit monitoring costs, PR costs as well as 3rd party costs or the costs to defend and settle claims related to a breach of PII. Policies also cover ransomware events, the resulting business interruption, the cost to rebuild your network, as well as potentially paying the ransom. With a huge increase in ransomware as well as social engineering/financial fraud/crime claims, this coverage is important for all businesses, especially small businesses.
Here are two great resource to reference: https://prowritersins.com/cyber-insurance-blog/is-cyber-insurance-worth-it/
https://prowritersins.com/cyber-insurance-blog/what-does-cyber-liability-cover/
Click here for a great resource on how to talk about cyber insurance and sell it to your clients.
Check out our blog to learn about comparing cyber insurance by clicking here.
We have a blog dedicated just for this question. Check it out by clicking here.
Click here for some of the most effective ways to protect against an attack.
You can download cyber claims examples by filling out the form on this page. There is also a whitle labeled version available for you to add your logo to and send to clients.
Visit our broker resources page or blog page for resources that you and your clients can use.
As defined by the Merriam Webster dictionary, “phishing is a scam by which an internet user is duped into revealing personal or confidential information which the scammer can use illicitly.”
If you check your email spam inbox, you’re bound to find hundreds of these (but don’t open them!). They can do serious damage to your computer system and your private information.
Learn more about how to protect yourself from these emails here.
Read our blog to learn about the qualifications of a capable and trustworthy third party vendor here.
Learn about the top 10 cyber security threats today and what steps you and your clients can take by reading this blog.
CGL policies do not cover cyber exposures, despite the growing need for cyber insurance coverage. Learn more by clicking here.
Created by the major credit companies including Visa, Mastercard, and American Express, these standards are meant to protect sensitive consumer data. This applies to businesses of all sizes—if your clients accept even one credit card payment, they will need to follow these rules. Click here to read more.
We get this question a lot, the short answer is YES. Click here to read more in our blog.
Read all about GDPR and compliance guidelines here.
Some clients understand this exposure, but many do not or incorrectly think that because they outsourced this service that it is not their issue to deal with. Learn more in our blog by clicking here.
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