How confident are your clients in their Technology and Network Security coverage? Many basic coverages do not offer the specialized protection your clients need to cover their assets.
Cyber and Privacy
On May 25, 2018, the enactment of General Data Protection Regulation (GDPR) brought added exposure for any business with the potential of collecting personally-identifiable information on European Union (EU) citizens. Businesses who violate GDPR can lose up to 4 percent of revenue – not profit – with a cap of $24.8 million.
The stringent set of security and data processing standards protects the fundamental rights and freedoms of EU citizens’ personal privacy. Personal information being broadly defined constitutes an increased need for proper cyber coverage.
Burns & Wilcox can provide Cyber Liability Coverage and consultative resources to help ensure your clients are in compliance with evolving cyber regulations that carry hefty penalty fees.
Traditional policies can fail to address the new threats that media companies are facing today. The media industry is exposed to a range of risks, such as defamation, invasion of privacy and intellectual property rights infringements, to name a few.
Media Liability Coverage through Burns & Wilcox is tailored errors and omissions (E&O) liability insurance designed for publishers, broadcasters, and other media-related firms.
Burns & Wilcox, a leading insurance wholesaler, can help brokers and agents identify and limit the risks that clients are exposed to and develop a customized product that provides coverage that allows them to operate without worry.
Technology Errors and Omissions (E&O)
Experts predict that by 2020, at least 30 percent of companies globally will use artificial intelligence (AI) in at least one fragment of their sales process. This technology is expected to increase the global GDP by $15.7 trillion by 2030, demonstrating a 14 percent increase, making it the biggest commercial opportunity in today’s economy.
Tech companies utilizing AI to identify patterns and predict outcomes are vulnerable to added liability exposures as responsibility shifts from human to machine and manufacturer. It is crucial that companies are protected from the risks they face in this quickly changing marketplace.
Technology Errors and Omission (E&O) Coverage from Burns & Wilcox can provide your clients with financial protection when held liable for errors, omissions or negligence in relation to their work involving hardware, software, the web and IT services.
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