WOODCLIFF LAKE, N.J.--(BUSINESS WIRE)--Colonial Surety, a direct and digital insurer, today announced the launch of The Notary Package, which Colonial created in response to a rise in cybersecurity risks for Notaries, which are the result of the industry’s pandemic-induced shift to digital.
“The pandemic pushed Notaries to quickly shift to a new paradigm of remote notarization and online communication,” said Wayne Nunziata, President at Colonial Surety. “Unsurprisingly, they rose to the challenge, adapting to remote communication platforms and tools to successfully continue performing their duties while unable to meet clients in person. However, the rapid technological advancement naturally came with a rise in cybersecurity concerns, making it even more imperative that notaries also protect themselves with Errors and Omissions and Cyber Liability Insurance. Enter, The Notary Package, created to ensure all notaries can efficiently and affordably protect themselves in this new era of digitally driven Notary work.”
Most U.S. states require a Notary Bond as a prerequisite to becoming a Notary. A Notary Bond guarantees the public that duties will be performed according to all applicable regulations. As a direct writer of Notary Bonds, Colonial meets the specific requirements of every state. Since Notary Bonds do not protect the notary, Colonial designed a convenient, comprehensive package enabling notaries to get required bonds and important insurance protections all in one place as they adapt to their industry’s continuing shifts to digitization.
Colonial’s Notary Package consists of a full term Notary Bond at $69, along with $25,000 of Errors & Omissions Insurance (E&O)--which automatically includes $25,000 of Basic Cyber Liability Insurance, for under $14 per month. Importantly, E&O protects Notaries in the face of allegations of negligence in the performance of duties. Also known as Professional Liability Insurance (PLI), E&O covers legal defense expenses, and the cost of settlements and judgments in the event of a lawsuit. “This is important because bonds do not protect notaries, only E&O Insurance does,” added Nunziata.
Uniquely, to provide notaries with added protection and value, Colonial includes Basic Cyber Liability Insurance with the purchase of E&O Insurance. This Cyber Liability coverage provides Notaries with critical breach response services, mitigating damage and ensuring that obligatory investigation and notification procedures are implemented. Protection against lawsuits and regulatory actions related to the cybersecurity breach is also included.
Learn more about The Notary Package via Colonial’s website: https://www.colonialsurety.com/surety-bonds/notary/
About Colonial Surety
Colonial Surety was founded in 1930 and brings deep experience and market expertise to every product and every customer relationship. Colonial Surety gives its customers the assurance that they, their businesses, and their clients are safeguarded with the right surety and insurance products at all times.
Colonial Surety makes it easy for a wide range of industries and professions to buy the bonds and insurance products they need. Colonial Surety is a direct and digital insurer offering products through an online platform supported with exemplary customer service. The company gives customers a simple, direct, and instant service that takes the pain out of buying insurance and bonds. Colonial Surety is licensed in every U.S. state, rated “A” Excellent by A.M. Best, and listed by the U.S. Treasury as an approved surety.
