Insurance for Technology Companies
Is your company involved in a technological field? If you’re relying on a traditional liability policy to insure your business, you may not have met your needs.
Unique risks you are more likely to be exposed to as a technology company may not have been anticipated by a regular liability insurance policy. The worst time to discover that is when you need the coverage. This is why Bryant Asset offers specialty programs for your industry.
Telecommunications, Information Technology, Medical Technology or Electronics Manufacturing companies in particular may benefit from one particular coverage type that we offer, which is modular in nature, making it easier to customize to fit your needs. It’s composed of three main modules:
- Technology Errors and Omissions Liability - Protects against damages your business must pay as a result of an error, omission, or negligence that resulted in an economic loss.
- Network and Information Security Liability - Protects against risks associated with a failure to to protect the private information of others, stored in an electronic format, the inadvertent transmission of a virus, and your website or other network resource being unavailable to authorized users.
- Communications and Media Liability - Coverage to protect against suits or claims for damages as a result of unauthorized use of trademarked or copyrighted intellectual property, regardless of whether the usage was printed or electronic. Unauthorized use of advertising material or slogans and exposure from plagiarised works on your advertisements is also covered.
This coverage applies worldwide, so no matter where you do business, you can be certain that you’ll have the support you need. Plus, to keep things as simple as possible, these coverages can be included as a part of a general liability and property policy that is also tailored to the needs of a technology company.
Even the most meticulous companies can face lawsuits and claims against them. The unexpected does happen:
- Despite your best efforts, a customer may tell you that your work failed to meet either expectations or contractual obligations, or that the work you did resulted in their systems failing or becoming incompatible with each other.
- Your employee’s laptop containing customer financial information may be stolen.
- Your competitor may contend that advertising material on your website was taken from them.
- You may discover that a competitor has made unlicensed use of your intellectual property.
All of these scenarios can either lead to a claim being made against you, or require you to pay out expensive legal fees to defend your rights. All of these scenarios can be protected against with the insurance programs offered to technology companies by Bryant Asset Protection.
Contact us today, and we’ll arrange a consultation with you to assess what you need to be covered against, and set you up with an insurance strategy.