Professional Liability Insurance

What is Technology Errors and Omissions Insurance?

Tech E&O covers a policyholder against a claim that the insured was negligent in providing a technology service.

Why does your business need Tech E&O coverage?

Some examples may include:

• A policyholder provides an e-commerce platform that crashes, causing customers that use the e-commerce platform to sue the insured for financial losses.
• A technology consultant faces liability for giving incorrect advice on setting up a client’s software platforms.
• A policyholder develops a software program that has a glitch causing network interruptions to their clients and third parties.
• An insured CRM platform experienced glitches to their system, preventing a company from accessing their client contact list resulting in a loss of revenue.

What does Tech E&O cover?

• Coverage for claims brought by third parties who suffered financial loss as a result of the insured failing to adequately provide technology services
• Covers both defence costs   and damages to third parties within the limit of liability
• Broad definition and appetite
• Coverage available for claims arising from:
  • systems analysis, design, implementation, and integration
  • software development and programming
  • data processing
  • management, repair, support and maintenance of software, computer products, networks, and systems
  • technology consulting services
  • the creation, manufacture, development, distribution, license, lease, sale, or training in the use of any technology product

The AIG Advantage

• 40+ years of experience writing diverse E&O risks means that policies work for each individual client’s definition and industry - crafting tailored and broad definitions of professional services allows AIG to respond to clients’ unique claims a while helping them prepare for potential losses
• Commits to a consistent, seamless experience and coverage for clients in 215+ countries and jurisdictions
• Provides veteran in-house E&O claims professionals working with underwriters to address claims with swift, unparalleled expertise

What is Professional Liability and Cyber Liability Insurance?

Combined professional liability and cyber liability insurance provide diverse E&O coverages.

Why does your business need Professional Liability and Cyber Liability Insurance?

Some examples may include:

• A real estate agent that experienced a loss was provided services from one of the country’s premier law firms
• A recruitment agency experiences a data breach that compromises customer data
• A firm's computer system is hacked and unable to operate, resulting in lost revenue

What does Professional Liability and Cyber Liability Insurance cover?

Through one modular form, AIG’s Professional and Cyber Liability Insurance Cover, Specialty Risk Protector,  uses one policy to solve a diverse range of Professional Liability and Cyber Liability exposures. Professional liability coverage combined with data and network security protection offer exceptional coverage.

Combine the following coverages under one policy:

• Miscellaneous Professional Liability
• Tech E&O
• Media liability (content, publishers, and broadcasters)
• Security and privacy liability
• Event management
• Cyber extortion
• Network business interruption
• Employed lawyers’ professional liability
• ReputationGuard®

The AIG Advantage

• Tailored solutions and definitions of professional services based on a company’s unique risk
• Experienced claims team with technical expertise to address a wide range of problems
• Access to AIGs preferred network of top-rated Canadian legal counsel

What is Reputation Insurance?

Reputation insurance provides proactive mitigation and reputation attack response coverage, including crisis communications. This coverage is often attached to a cyber policy and can provide a sublimit up to $50K.

Why does your business need ReputationGuard Insurance?

Some examples may include:

• A news article is published accusing a clothing retailer of using sweatshops to create their product.
• A food manufacturer is alleged to have contaminated a product circulating within the US and Canada.

What does ReputationGuard cover?

ReputationGuard provides coverage for consultation, monitoring, mail, advertising, and other communications costs recommended by crisis communication panel experts in response to both actual and anticipated publicity that is potentially damaging to reputation or brand value. ReputationGuard provides:

• Coverage beginning when a policyholder hires any of our panel public relations firms
• Cost of communications in response to adverse publicity including television, print and online advertising
• Cost of waging a social media campaign designed to address adverse publicity
• Costs associated with helping to monitor the brand perception of the company at risk

The AIG Advantage

• Consultation with panel experts when a threat is identified or at the first sign of negative publicity
• Access to expert advice to develop a communications strategy and manage the disclosure of potentially damaging information
• Global expertise to help board members and executives make tough decisions easier