What is privacy regulatory claims coverage in a cyber liability policy?
Wow. That’s a mouthful.
The regulatory coverage in a cyber liability policy actually pays for and protects you against the fines and sanctions that may be levied against you from state, local and federal governments for not properly ensuring the data that you’re responsible for.
Don’t get caught, make sure this coverage is in your cyber liability policy.
Does your business include providing notary services for
If it does, you may have a potential coverage gap in your
errors and omissions insurance policy.
In the times that we live in today with the COVID virus in
the state mandated social distancing rules and regulations, the notary industry
has come up with what they call RON services, remote online notary services.
This basically allows the notary to perform notary reacts without the signer of
the documents physically appearing in front of the notary. And while this may
be a great thing to do now, during these times, it does pose insurance concerns
and coverage issues.
Most errors and omissions policies which cover notary acts
contain an exclusion or exclusionary wording that prohibits a notary act
without the signer of the documents physically appearing in front of the
Well, if you are notarizing a document online, obviously the
signer of the document is not physically in front of you. What do you do?
I suggest that you call your insurance broker that sold you
your errors and omissions policy and have him or her confirm with the insurance
carrier, that the RON services will in fact be covered under your policy.
We at Integrity First Corporation have called all the carriers that we deal with for the errors and omissions coverage and they all have answered positively with regards to the remote online notary services. They have confirmed that the policies will respond to the RON services provided that those services have been done in accordance with the state approved guidelines and regulations.
So again, you need to do the same. Call your broker and
confirm that coverage does exist for these types of services in your policy.