E&O – which stands for errors and omissions – is a type of professional liability coverage that protects the policyholder against a variety of claims. Cyber insurance protects against cyber breaches and losses that might be caused by hackers. E&O cyber claims include any made by clients that suggest negligence or insufficient effort to provide work on the part of the policyholder, as well as losses to to security breaches.
Who Needs E&O Cyber Insurance
If you are in a service-based industry, meaning that you provide a service to others, you probably need e&o cyber insurance (this can be purchased online through a reputable company). Doctors, insurance agents, consultants, party planners, and a host of other professionals require the protection that E&O insurance provides. If you maintain records that include privileged or sensitive client information, cyber insurance is an absolute must.
What Does E&O Insurance Cover
A comprehensive E&O cyber insurance policy is one that you will obtain for yourself in order to stay safe against claims such as negligence. When dealing with potential losses or breaches in client records, E&O cyber insurance will allow you to perform the services you provide without the worry of being held liable for any breach of that information.
If in doubt as to whether E&O is right for you, speak with an insurance professional who can offer guidance and advice.