Cyber and Tech E&O: Do You Need Both Policies?
White Paper Summary
All companies experience stress in the aftermath of a cyberattack. Risk managers need to work with insurers, lawyers and other response team members to recover files and make sure sensitive data isn’t leaked.
But when a technology provider is hit with an attack, it faces an additional layer of stress. A popular target for cybercriminals, tech firms often hold sensitive data for their clients, offering attackers not just their own files but those of the firms for whom they provide services too.
“Tech companies end up being targeted many times because of the data they hold,” said Anthony Dolce, head of professional liability, cyber and technology E&O at The Hartford.
In addition to questions surrounding cyber claims, tech firms might also be concerned about errors and omissions (E&O) exposures that they may face. Insureds might wonder about the differences between these two policies and whether or not they need both.
Partnering with the right cyber and tech E&O carrier can help insureds navigate the challenges that arise where these two policies intersect.
To learn more about Liberty Mutual Insurance, please visit their website.