Technology Insurance Overview
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Ever had trouble trying to explain what your technology firm does to an insurance
professional; your workflows, business model, employee job descriptions? Are you
frustrated or concerned because you feel like your company is exposed to technology
E&O and other risks but can’t seem to find the right insurance program or professional
that can adequately address those risks?
With seasoned technology professionals
on our staff and decades of
combined commercial insurance experience, we will listen to and understand your
particular technology insurance needs - the first time around.
“Our experience with Desmond Insurance has been great. When we first approached them,
we were concerned that our existing commercial insurance policy wasn’t equipped to handle an
online or dot-com business. Of particular concern were risks posed by the open forum
hosted on our flagship site
www.expeditersonline.com. During our first appointment with Sean
at Desmond Insurance, we knew we found the right outfit for the job. Within a few
days we had a technology insurance package that not only met our particular needs,
but reduced our overall insurance expense.”
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Lawrence McCord
President & CEO, OnTime Media
http://www.ontimemedia.com
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Insurance Coverages for a Technology Firm
Listed below are some insurance products aimed specifically at technology based
businesses.
- Communications and Media Liability: Coverage to
protect against claims or suits for damages resulting from unauthorized use of someone
else’s copyrighted or trademarked intellectual property, whether electronic or in
print. It also covers unauthorized use of any advertising material, or any slogan
or title, and exposures resulting from plagiarism of a literary or artistic format,
character, or performance in your material.
- Technology Errors & Omission Liability: This coverage
protects against damages that you must pay because of economic loss that results
from your products or your work and is caused by an error, omission, or negligent
act.
- Network and Information Security Liability: Cutting
edge coverage that protects against risks associated with the failure to protect
electronic data containing others’ private information, the inadvertent transmission
of a virus, and the inability of authorized users to access a Web site or computer
network.
- Technology Specific General Liability Protection:
Technology insurance policies incorporate...
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a)
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broad definitions for "covered material" that include electronic communications
and the Internet
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b)
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coverage for personal and advertising injury coverage for disparagement of another's
business
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c)
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removal of the exclusion for advertising injury offenses committed by or for policyholders
"in the business of advertising, broadcasting, publishing or telecasting"
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- Property Protection: Flexible menu of high-tech
property insurance including buildings, machinery, computers, software, data, prototypes,
spoilage and newly-acquired property.
Who Needs Technology Insurance Products & Services?
- Electronics Manufacturing
- Computers, electronic components and peripherals
- Industrial electronics
- Instruments and measuring equipment
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- Information Technology
- Products, applications and computer programming services
- Integrators and consultants
- Managed and outsourced IT services
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- Medical Technology
- Diagnostic, surgical, monitoring and treatment instruments
and technologies
- Invasive and non-invasive medical devices and appliances
- Laboratory instruments and tech
- etc...
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- Telecommunications
- Equipment manufacturers
- Service providers
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Get More Information
If you are interested in our program or would like more information, please fill
out our
online information request form. Or, contact
Sean Desmond,
our technology insurance program administrator.
Phone: (513) 549-7326
Email: SMDesmond@desmondins.com