Peril or Hazard
Which kind of policy (LOB) do I need?
100

Ransomware

Peril

100

Chisel stores and uses client data on their cloud to train ML models.

Cyber

200

Hurricane Sandy

Peril

200

The Keystone XL pipeline in Alberta.

Environmental

300

Reactor design flaw at Chernobyl

(Physical) Hazard

300

Petunia received her CPA designation and worked with Deloitte for 3 years.  She decides to open her own tax advisory business.

Errors & Omissions

400

CO2 Emissions

Hazard

400

The Eglinton LRT

Builder's Risk and/or Wrap-Up

500

In 2001, Enron used “mark-to-market” accounting to fake their profits, made their losses seem less than they actually were, and “cooked the books” to make their income look much higher than it was.  

(Moral) Hazard

500

The Mediterranean Shipping Company

Ocean Marine