There are additional coverages that you can add to your BOP to help to tailor coverage to your specific needs. Here are two popular optional coverages that are frequently added to a BOP:
Data Breach Coverage(Cyber Liability Insurance)
Any business that handles or stores private customer, patient or employee information is at risk for a data breach. When this sensitive information is lost or stolen, it’s important to act quickly to restore confidence in your business. If a breach occurs, data breach coverage can help pay for the expenses to notify impacted individuals, engage credit monitoring services (if warranted), public relations and more. We also offer coverage to help with defense and settlement or judgment costs in the event your business is sued due to a breach. Coverage is provided even if private data is stored internationally. Additional coverage options can help:
- Replace lost income and pay for extra expenses incurred to keep
your business running if your business must close temporarily or
slow operations due to a covered data breach.
- Protect a business from a data breach that occurred prior to the
policy effective date.
- Pay for extortion expenses and ransom payments associated with
the threat of a data breach.
Data breach coverage includes access to professionals who can help
guide you on how to prevent
breaches and how to manage should one occur.
Professional Liability (Errors and Omissions) Coverage
You put your professional judgment and expertise on the line just about
every day. Even if
you’ve done nothing wrong, your business can be sued by a customer or
client claiming a
negligent act, error or omission in the professional services you
provided. Add Professional
Liability (Errors and Omissions) coverage to your BOP insurance to help
protect your business
from this type of claim. Some types of businesses may not be eligible
for this coverage.