Does a Directors and Officers (D&O), or a Professional Errors and Omissions (E&O), insurance policy address these potential cyber-crime liabilities?
Many do not or if they do the coverage limits are normally far below the potential damage claim liability exposure created by one’s association with an organization that could become the target of a serious cyber-crime attack. It is important that coverage terms, coverage limits and coverage exclusions be determined and the results be factored into an individual’s personnel risk management decisions. Clearly the commitment and the diligent implementation of an ACAP System by the organization to which the individual is affiliated or associated can aid in mitigating the risk exposure, but the liability is personnel and each individual must address their acceptable degree of risk exposure and take those actions necessary to mitigate the risk. Because of the magnitude of the potential damage liability one may desire to seek advice of legal counsel and notify the management of the associated organization of the individual’s desire for the organization to acquire and implement the ACAP Syste
