Industry Insights

It is not advisable to add non-affiliated organizations as an additional insureds on Errors & Omissions (E&O), Directors & Officers (D&O), Employment Practices Liability (EPL) and Cyber Insurance policies. Adding non-affiliated organizations to these policies may result in reduced coverage.

Ransomware attacks have increased significantly and are creating challenges for SMBs and for their Cyber Insurers. And we may be facing a perfect storm for continued ransomware attacks. Proactive steps to reduce exposures combined with Cyber Insurance can greatly reduce financial and operational exposure to cyber risks – make sure you have the right Cyber Insurance.

What is a claims-made insurance policy? A claims-made policy responds to a claim that is made during the policy period regardless of when the event leading to the claim occurs – subject to certain other requirements.

If your organization has challenging, unique, or complex exposures, the Surplus Lines market may be essential in obtaining proper insurance coverage.

Cyber Insurance is becoming more important and more costly for both insureds and their insurers as cyber-attacks increase. Underwriters are looking for companies that have taken steps to mitigate cyber exposures.