errors and omissions (E&O) insurance
An insurance form that protects the insured against liability for committing an error or omission in the performance of professional duties. Generally, such policies are designed to cover financial losses rather than liability for bodily injury or property damage.
environmental impairment liability (EIL) insurance
A specialized insurance policy that covers liability and sometimes cleanup costs associated with pollution.
product recall insurance
Insurance that indemnifies the insured for the cost of recalling products known or suspected to be defective.
cyber risk
Any risk of financial loss, disruption of business, or damage to an organizationís reputation due to a failure of its information technology systems.
directors and officers (D&O) liability insurance
Protection for officers and directors of a corporation against damages resulting from negligent or wrongful acts in the course of their duties. Also covers the corporation for expenses incurred in defending lawsuits arising from alleged wrongful acts of officers or directors. These policies always require the insured to retain part of the risk uninsured. Also called D&O liability insurance.
cyber crime
A criminal offence committed through a computer or the Internet that causes loss or damage to the victimís computer system, network, or data; denies access to data or service; or enables further related crimes such as extortion or the resale of stolen data.
