E&O Insurance for Professional Services
Service providers in virtually any field are at risk of being sued. Without proper insurance coverage, attorney fees and other legal costs are an expense that the majority of businesses cannot afford to bear. Further, approximately 67% of small and medium-sized companies have experienced a cyberattack. If the company must suspend operations as a result of a cyberattack, it has only a 40% chance of reopening. Small- and mid-size companies may opt to use their Miscellaneous Professional Liability (MPL) policy to respond to losses from a Cyberattack. This approach, however, can leave them without some of the special cyber coverages they may need. To safeguard against these losses, Crum & Forster offers Miscellaneous Professional, Cyber, and Media Liability (MCM) form.
Our MCM form offers a more holistic approach and makes it easy to provide enhanced coverage for your clients because it combines coverage for your clients’ Miscellaneous E&O, Media Liability and, now, Cyber Liability exposures. Our end-to-end solution also includes closely coordinated claim management from our expert MPL and Cyber claim teams. This can eliminate issues of which policy should respond to a loss and allows us to manage claims more effectively.
To learn more, email Safeer.Mohammed@cfins.com.
Contact
Safeer Mohammed
Assistant Vice President, eRisk
770-990-2079
Safeer.Mohammed@cfins.com
Downloads
Executive Risk Overview
MCM Overview
Solutions & Services
Executive Risk
Management Liability
Professional Liability
Cyber Insurance
Crime & Fidelity
Commercial Lines
Claim Services
MCM – Target Classes
We offer Professional Liability Insurance for a broad array of service providers, including:
- Administrative services / billing services / medical billing support services
- Advertising / marketing / public relations agencies
- Benefit plan consultants
- Claims adjusters and related services
- Forensic services / investigators / reverse engineers
- Franchisors
- Management consultants
- Monitoring services (non-emergency)
- Staffing services
- Third-party administrators
- Title Agencies
Coverage is available for these professionals and more, and we also manuscript solutions. For details, email Safeer.Mohammed@cfins.com.
MCM Insurance - Policy Highlights
PRIMARY
- Final adjudication wording
- Bilateral extended reporting period (ERP)
- Worldwide coverage
- Claims made and reported (for MPL Coverage)
- Spouse and domestic partner coverage
- Duty to defend wording
- Punitive Damage or any damages which are a multiple of the compensatory damages*1
- First Party Cyber Coverage are on circumstances-discovered basis
- Business Interruption including Systems Failure
- Dependent Business Interruption Coverage
- Ransomware/Malware coverage
- Cyber Liability coverage including Payment Card Industry (PCI) liability and Regulatory Defense/Penalties coverage
- eCrime/Social Engineering loss limit up to $250,000
- Broad Cyber Breach Cost Coverage
- Includes $0 retention for legal services after a Cyber Event*2,
- Public Relations and Crisis Management Cost,
- Notification Cost (includes costs incurred by the Insured Entity to directly notify on behalf of a third party)
EXCESS
• Simple one-page, follow-form policy
CAPACITY
• $5,000,000 (Admitted) Primary or Excess
• Admitted and non-admitted policies available
• Minimum premium: $2,500
• Minimum deductible: $2,500
For additional information, email Safeer.Mohammed@cfins.com.
*1 to the extent permissible to be insured under applicable law
*2 when services are recommended by the C&F Cyber Response Team and the insured agrees to utilize vendors nominated by the C&F Cyber
Get 24/7 Access to Our Cyber Solutions Team
To help our customers prepare for and recover from a Cyberattack, we offer 24/7 access to the Crum & Forster Cyber Assistance Center.
The Center provides access to our Cyber Solutions Team, which includes:
- CyberReady Call
- Incident Response Plan Reviews and
- Executive Tabletop Exercises
Additionally, Our team of cyber professionals are offering a complimentary cyber review well ahead of your 30-day insurance renewal period to help you put the right controls in place to obtain the best possible renewal terms.
Management
Liability
We provide D&O Liability, Employment Practices Liability, Fiduciary Liability and other specialty products for commercial enterprises and financial institutions.
Professional
Liability
Our customized coverage solutions address the Errors & Omissions (E&O) risks that providers of professional services face in the course of doing business.
Cyber
Insurance
Our Simple Cyber policy offers coverage for first-party and third-party exposures, 24/7 access to Cyber Response services, and loss control resources.
Crime &
Fidelity
We offer Crime & Fidelity coverages to provide financial protection against losses due to employee dishonesty, theft, fraud, forgery and other exposures.