Chubb has created a new insurance product that will help insulate “professional services firms, media organizations and technology companies from errors and omissions (E&O), media liability and cyber exposures.”
As companies begin to expand into new growth areas and use new technologies, they are facing a convergence of new liability exposures, says Catherine Padalino, senior vice president and global errors and omissions manager for Chubb. “A firm that provides consulting services may also be creating website content, storing confidential customer data and providing software products. An organization that creates media and advertising may also be developing applications to disseminate content and collect private consumer information. These organizations are exposed to media, cyber, and errors and omissions liability,” said Padalino.
To manage these converging exposures, Chubb has developed Chubb Professional Portfolio, which is a combined insurance product that “provides a seamless approach to address these exposures, reduce potential coverage gaps and streamline the handling of claims. The product enables companies to customize their insurance protection by selecting one or more coverage parts.”
Click here for more on the new product.