When it comes to agent and broker errors and omissions risks, one area where agents might be missing potential liability concerns their exposure to data breaches, one major surplus lines broker warns.
Kimberly Smith, professional liability underwriter with Burns & Wilcox, explained that too many producers believe that their technology department or consultant can take care of any exposures when it comes to their information program.
However, the truth is that data security can be breached, and agency principals need to consider E&O policies that will cover the risk that client data could be compromised.
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