Agents are bracing for errors and omissions (E&O) claims stemming from the pandemic when insureds discover they carry inadequate coverage or none at all. Regrettably, agents likely face a similar scenario in cyber coverage unless they take steps to prevent it.
“Make no mistake, cybercrime is on the rise, sharply,” says Lisa Doherty, a founder and CEO of Business Risk Partners. “We have not yet seen E&O claims stemming from cybercrime, but we certainly expect it soon and have taken steps to address it, including new standalone coverage now in development that meets this serious need. Understandably, the pandemic has dominated the headlines for some time, however mitigating cybercrime, including making adequate coverages available, is absolutely critical.”
Offer Cyber Liability to Your Clients
IIAT Advantage has an exclusive partnership with Wingman Insurance to offer cyber liability coverage through AXIS, rated “A+” (excellent) by A.M. Best. IIAT members can now provide stand-alone cyber liability insurance for all of their commercial clients.
Have questions about your E&O? Contact IIAT Advantage E&O.
Director of Professional Liability
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IIAT is one of the longest-standing providers of Agency E&O coverage in Texas with strategic carrier partnerships specifically designed with the needs of Texas agents in mind.
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