Understanding Technology Professional Liability Insurance Technology Professional Liability Insurance is a specialized policy designed to protect technology professionals and firms from claims of negligence, errors, omissions, or failures to deliver promised services. Unlike general liability insurance, which covers bodily injury or property damage, Tech E&O Insurance focuses on financial losses …
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Introduction Electronic Media Liability Insurance (EMLI) is a specialized form of coverage tailored for businesses and individuals engaged in creating, distributing, or hosting digital content. With the rise of online platforms, social media, and digital marketing, organizations face unique risks, including intellectual property disputes, defamation claims, and invasion of privacy …
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What is Cybercrime Insurance? Cybercrime insurance, also known as cyber liability insurance, is a type of policy that helps organizations recover from cyber-related incidents by covering the associated financial losses. It provides a safety net against the costs of cyberattacks, which can range from business interruption to legal expenses and …
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What is Intellectual Property Insurance? Intellectual Property Insurance is a specialized type of coverage designed to protect businesses and individuals against the costs and risks associated with IP infringement claims. It covers both the defense of IP rights and the enforcement of those rights against infringers. By mitigating the financial …
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Understanding Technology Liability Umbrella Insurance Technology Liability Umbrella Insurance is designed to provide supplemental coverage that exceeds the limits of a business’s primary insurance policies, such as general liability, professional liability, and cyber liability insurance. It is particularly relevant for technology-based businesses, including software developers, IT service providers, data management …
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Understanding Social Engineering Attacks Social engineering is a cyberattack method that manipulates individuals into divulging confidential information or performing actions that compromise security. Common types include: Phishing: Fraudulent emails or messages that appear legitimate to steal sensitive information like passwords or financial data. Spear-phishing: Highly targeted phishing attacks aimed at …
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What is Privacy Liability Insurance? Privacy Liability Insurance is a specialized form of insurance designed to protect organizations from the financial and legal repercussions of data breaches, cyberattacks, and other privacy violations. These policies typically cover the costs associated with managing data breaches, including legal fees, regulatory fines, notification expenses, …
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Key Features of Ransomware Insurance Ransom Payment Coverage This covers the cost of paying a ransom to the attackers, if deemed necessary. However, insurers often emphasize that paying ransoms should be a last resort and in compliance with local laws, as some jurisdictions prohibit payments to certain sanctioned entities. Data …
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Understanding Technology Business Interruption Insurance Technology Business Interruption Insurance is a form of coverage designed to address revenue losses and additional costs incurred when a cyber event disrupts a company’s ability to operate. Unlike traditional business interruption policies, which typically respond to physical damage or natural disasters, TBII specifically addresses …
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What is Cyber Liability Insurance? Cyber liability insurance is a specialized insurance policy designed to protect businesses from financial losses and liabilities associated with cyberattacks, data breaches, and other technology-related incidents. It covers various costs, including those arising from legal claims, data recovery, business interruption, and regulatory penalties. Why is …
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