About

Who we are

Ocean Falls Insurance Limited is at the forefront of navigating the intricate landscape of modern business risks. As specialized challenges arise in today's fast-paced environment, we stand by your side, offering protection from potential setbacks and financial disruptions.

  • Specialized Risk Solutions: As the business world evolves, so do its challenges. We're here to provide insurance tailored for hard-to-place risks, including LLM model underperformance, cyber threats, and leadership liabilities like E&O and D&O.
  • Expert Risk Guidance: Our team is dedicated to understanding and mitigating the unique challenges you face. By identifying and strategizing against these risks, we help ensure the smooth operation of your business.
  • User-Friendly Approach: Navigating the world of specialized risks shouldn't be a maze. Our platform is designed with clarity in mind, making it easy for you to manage and understand your policies.
  • Efficient Support: When challenges arise, time is of the essence. We prioritize swift and effective responses, so you can get back to what you do best.

At Ocean Falls Insurance, we're more than just a provider; we're partners in safeguarding your business from the nuanced risks of the modern world. We craft solutions that are as flexible and innovative as the challenges they address. .

We are Ocean Falls – championing business resilience in a dynamic world.

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Services

What We Offer

AI Risk Coverage

Specialized insurance solutions to cover AI-related risks, including algorithmic bias, model underperformance, and compliance challenges.

Cyber Liability Insurance

Comprehensive protection against data breaches, privacy violations, and other cyber threats exacerbated by AI systems.

Performance Guarantees

Tailored coverage for businesses offering AI services, ensuring compensation for underperformance or unmet contractual guarantees.

Employment Practices Liability

Coverage for claims related to AI-driven discrimination or bias in hiring, promotion, and employment decisions.

Regulatory Compliance Support

Assistance in meeting regulatory requirements for AI systems, ensuring alignment with evolving legal standards and industry best practices.

Risk Advisory Services

Expert consultation to identify, assess, and mitigate risks related to AI adoption, ensuring resilience in a dynamic business environment.

Percentage of CEOs say their organizations would benefit from implementing AI

Percentage of all business leaders are concerned about the trustworthiness of AI and ML

Percentage of CEOs citing potential errors as a top risk of AI and ML integration, reinforcing that lack of trust

Specialized Risks

Additional Coverages We Offer

Protecting individuals from losses resulting from wrongful acts or mismanagement.

Directors & Officers (D&O) Insurance is a type of insurance that protects the personal assets of corporate directors and officers from financial losses arising from wrongful acts, such as wrongful termination, discrimination, and breach of contract. D&O insurance also covers the cost of defense in the event of a lawsuit, as well as any settlement or judgment that may result.

This type of insurance is particularly important for publicly traded companies, as well as for non-profit organizations, as they face a higher risk of legal action against their directors and officers. D&O insurance can also protect the company from financial losses caused by the wrongful acts of its directors and officers, which can be especially useful in cases where the company itself is not able to pay for the damages.

There are two types of D&O insurance coverage:

  • Side A coverage, which covers the individual directors and officers when the company is unable to indemnify them.
  • Side B coverage, which covers the company for the cost of indemnifying its directors and officers.

By purchasing D&O insurance, companies can protect the personal assets of their directors and officers, and can provide them with the peace of mind that comes with knowing that they are protected against potential legal action. This coverage can also help companies to attract and retain high-quality directors and officers, who may be hesitant to serve without this protection.

Protects businesses and individuals losses caused by mistakes or oversights in their professional services.

Errors & Omissions (E&O) Insurance, also known as professional liability insurance, is a type of insurance that protects businesses and individuals from financial losses caused by mistakes or oversights in their professional services. This type of insurance is commonly used by professionals such as lawyers, accountants, consultants, and architects, who can be held liable for errors or omissions in the advice or services they provide. E&O insurance can also protect against claims of negligence or breach of contract.

E&O insurance typically covers the costs of legal defense, judgments, and settlements, as well as any damages awarded to the plaintiff. It can also provide coverage for claims that may arise after the completion of a project, such as latent defects. The policy can also be tailored to specific professions or industries.

By purchasing E&O insurance, professionals and businesses can protect themselves against the financial consequences of mistakes or oversights, and continue to provide their services with confidence. E&O insurance is a important form of risk management that can help professionals and businesses to manage the uncertainty and risk associated with providing professional services.

Provides coverage for an organization to pay for losses they may incur in the event of a cyberattack.

Cyber Liability Insurance (CyberRisk) is a type of insurance that protects businesses and organizations from financial losses caused by cyber-attacks, data breaches, and other forms of cybercrime. As technology advances, more and more sensitive information is stored and transmitted electronically, making it vulnerable to unauthorized access, theft, and destruction. Cyber liability insurance can help businesses and organizations to protect against these risks and to respond effectively in the event of a cyber incident.

Some common types of coverage provided by cyber liability insurance include:

  • Data breach response and recovery, which can help businesses to contain and mitigate the effects of a data breach, as well as to notify affected individuals and comply with legal requirements.
  • Loss of income, which can help businesses to recoup revenue lost as a result of a cyber incident.
  • Extortion and ransomware, which can help businesses to respond to extortion attempts and to recover from ransomware attacks.
  • Cybercrime, which covers businesses from loss or damage caused by hacking, phishing, malware, and other forms of cybercrime.

By purchasing cyber liability insurance, businesses and organizations can mitigate the financial risks associated with cybercrime and can respond effectively to cyber incidents. It can also help them to comply with increasingly stringent data protection regulations and to protect the sensitive information of their customers and employees.

Provides financial protection as a result of confiscation, nationalization or expropriation.

Political risk insurance is a type of insurance that protects businesses and investors from the potential financial losses caused by political events such as war, revolution, and government expropriation. This type of insurance is particularly useful for companies that operate in countries where political stability is uncertain or where the government's actions may be unpredictable. Some common types of political risk insurance include expropriation coverage, war and terrorism coverage, and currency inconvertibility coverage. By purchasing political risk insurance, companies can mitigate the risks associated with doing business in politically unstable regions and continue to operate with confidence.

Recent News

Cyber Risk AI News

 

Check Point Reports 44% Surge in Global Cyber-Attacks in 2025

Publication Date: 2025-01-25 7:20:00 PM Check Point Reports 44% Surge in Global Cyber-Attacks in 2025: Check Point Software Technologies Ltd.'s 2025 report reveals a 44% increase in global cyber-attacks compared to the previous year. The report offer...
Published on: Jan 25, 2025

 

'AI-powered solutions are essential to combat cyber threats’: Kallol Sil discusses India’s cybersecurity challenges

Publication Date: 2025-01-25 6:29:02 PM 'AI-powered solutions are essential to combat cyber threats’: Kallol Sil discusses India’s cybersecurity challenges: Kallol Sil, Co-Founder and CEO of WhizHack Technologies, highlights the crucial role of AI-po...
Published on: Jan 25, 2025

 

' AI -powered solutions are essential to combat cyber threats': Kallol Sil discusses India's ...

Publication Date: 2025-01-25 6:29:02 PM ' AI -powered solutions are essential to combat cyber threats': Kallol Sil discusses India's ...: I'd be happy to help you condense an article while preserving its factual details. However, it seems like you ha...
Published on: Jan 25, 2025

 

Applying the Enterprise Risk Mindset to AI

Publication Date: 2025-01-25 12:59:38 PM Applying the Enterprise Risk Mindset to AI: Artificial intelligence (AI) and emerging technologies are set to transform the financial industry, but they also introduce new risks. Many financial services firms...
Published on: Jan 25, 2025

 

Changing market cycles, competition and AI to dominate 2025: QBE’s Fresneau

Publication Date: 2025-01-24 11:44:52 PM Changing market cycles, competition and AI to dominate 2025: QBE’s Fresneau: Cecile Fresneau, managing director at QBE European Operations, stated that changing market cycles, competition, and AI will be key t...
Published on: Jan 24, 2025

 

Trump Reorders Federal AI Policy

Publication Date: 2025-01-24 10:38:33 PM Trump Reorders Federal AI Policy: U.S. President Donald Trump signed an executive order aiming to reinforce American dominance in artificial intelligence (AI), requiring a strategic plan within 180 days and di...
Published on: Jan 24, 2025

 

$4.88M was the average cost of a data breach in 2024

Publication Date: 2025-01-24 9:46:20 PM $4.88M was the average cost of a data breach in 2024: A report from KnowBe4 reveals that the average cost of a data breach in 2024 was $4.88 million, with the United States experiencing higher costs. For small...
Published on: Jan 24, 2025

 

OpenAI Launches AI Agent 'Operator'

Publication Date: 2025-01-24 6:29:11 PM OpenAI Launches AI Agent 'Operator': OpenAI has introduced Operator, a new AI agent that performs tasks by interacting with websites. Operator can handle activities like booking travel, ordering takeout, purcha...
Published on: Jan 24, 2025

 

OpenAI Launches AI Agent 'Operator'

Publication Date: 2025-01-24 6:29:11 PM OpenAI Launches AI Agent 'Operator' : Sure, please provide the article text you want me to condense and rewrite.
Published on: Jan 24, 2025

 

Cyber Insights 2025: Social Engineering Gets AI Wings

Publication Date: 2025-01-24 5:58:55 PM Cyber Insights 2025: Social Engineering Gets AI Wings : Please provide the text of the article you would like summarized or rewritten.
Published on: Jan 24, 2025

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F.A.Q

Frequently Asked Questions

  • Ocean Falls Insurance focuses exclusively on the risks associated with AI and emerging technologies. We offer innovative solutions for AI model underperformance, algorithmic bias, cyber threats, and other complex risks, ensuring businesses can confidently embrace the future.

  • While our primary expertise lies in AI and emerging risks, we also provide a range of commercial and personal insurance solutions. From cyber liability to traditional coverage needs, we deliver comprehensive services tailored to your requirements.

  • We prioritize efficiency and clarity in our claims process. Simply contact our claims team, and we’ll guide you through every step. Our goal is to resolve claims quickly so you can focus on running your business.

  • Our team continuously monitors advancements in AI and technology, collaborating with industry leaders and conducting regular training. This proactive approach ensures we provide cutting-edge insurance solutions for your business.

  • Yes! Our specialists are here to demystify complex risks such as AI model underperformance. We’ll work with you to identify vulnerabilities and develop tailored coverage to ensure your peace of mind.

  • Getting started is easy! Contact us using the form below or call us at +1 778-783-0779. Our team is ready to help you find the perfect insurance solution for your needs.

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+1 778-783-0779