Source: Reinsurance News
According to the firm, this coverage helps protect against the impact of a claim that a organisation committed errors and omissions in performing a professional service.
From what we understand, the firm’s MPL Insurance coverage is available by endorsement to Active Cyber Insurance policies through existing capacity providers, for a variety of different industries to cover defense costs, settlements, judgments, as well as other claims-related expenses.
The firm also explained that only around ten supplementary data points are required to quote an endorsement.
Shawn Ram, Coalition’s Head of Insurance, commented: “The professional services industry is rapidly expanding – projected to grow more than 6% over the next four years – because it plays a critical role in almost every type of business. It’s so important for these organisations that are embedded in the fabric of the business ecosystem to be protected against liability associated with committing errors and omissions.”