Commercial Insurance Overview: Types, Policies, and Trends
Commercial insurance, often called business insurance, is a crucial form of risk management that protects a business's assets, income, and legal liabilities from a wide range of potential losses.
Professional Liability Insurance (Errors & Omissions - E&O): Protects businesses that provide professional advice or services (e.g., accountants, consultants, lawyers, IT services) from claims that a professional mistake, oversight, or failure to perform caused a client financial harm.
Cyber Liability Insurance: Covers financial losses resulting from data breaches, cyberattacks (like ransomware), network security failure, and associated costs like notification, forensic investigation, and reputational management.
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