For Technology companies who want rock solid protection at a reasonable Cost.

As a technology company, your risk management needs are very different from other businesses. You need your insurance to not just cover slip and falls and other standard areas but your special contract needs. Most technology-based companies are astounded when they discover the huge holes in their insurance protection. That's why we offer resources that take the mystery out of properly protecting your business - without breaking the bank.

We want your business…

…And we couldn’t agree more with people who say that you should “shop” your insurance. That’s right, we think it is a good idea to occasionally make sure that the protection you are paying for is the security you desire. There are some insurance agents and companies that only have one option for your protection. We have dozens of insurance companies to choose from. You may be paying a higher premium simply because you have been with the same company for too many years.

Insurance Type Provider Additional Information
Permanent Individual Health Insurance Coverage (Maryland) CareFirst BlueCross BlueShield Click here to apply
Combined E&O / General Liability Quote United States Liability Insurance Group Click here for a quote
Foreign Travel Protection FrontierMEDEX Click here for travel insurance
Temporary Health Insurance Assurant Solutions Click here for temporary health insurance
Quick “Key Man” Life Over 100 Companies! Get a quote

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The Insurance Your Clients Demand You Have and Why You Need It: Bullet Points on Public Liability and Errors & Omissions Protection

July 3, 2012 No Comments »

Actually, the answer to one question we get asked all the time is the answer to why your client wants you to have two types of liability coverage.

Question:  “Why Do I Need Errors & Omissions Coverage?”

Answer: Your clients use your services because they rely on your expertise as a professional in the technology field and…

  • General Liability (“GL”) policies (and the general liability section of the “Businessowners (“BOP”) policy) both exclude any protection for “professional services.”
  • Your clients can sue you for a wrongful act in providing professional services, which can be the result of an act, error or omission - Not Covered by GL
  • Very often, it is not the result of a mistake, but rather displeasure with the outcome. Even frivolous lawsuits will incur defense costs. - Not Covered by GL
  • Programming errors, improper selection, installation, or configuration of networks/systems, failure to maintain the systems - Not Covered by GL
  • Failure to meet the requirements of a contract (ie timelines/content) are common scenarios leading to lawsuits for technology professionals. - Not Covered by GL
  • Failure to prevent unauthorized access (“hacking”) and unintentional introduction of malicious code (“virus”) - Not Covered by GL

Yes, this is the “sales portion of the program,” but hear me out - United States Liability Insurance Group (USLI) and L.E. Goldsborough & Son, Inc. both specialize in insurance for Technology-based companies.  The simple goal is to offer comprehensive coverage at a competitive price.  There are few (if any) others that can provide Intellectual Property, Unauthorized Access, Personal Injury and Malicious Code protection for both small and large companies alike (yes, even startups).  This coverage (Professional Liability) can be combined with a Business Owners package (General Liability) and can even include Hired and Non-Owned Auto insurance (check your contracts, bet your client wants this too) all at a cost that won’t blow the bid specs.

Don’t just buy a policy like a can of soup. There are differences and a little guidance from a knowledgeable agent will save you money, time and maybe everything you have worked for.

IMPORTANT: This document does not amend or extend or alter coverage afforded by any policy.   For a complete understanding of any insurance you purchase, you must first read your Policy, Declarations Page and any Endorsements and discuss them with your broker.   A specimen policy is available from an Agent of the Company.   Your actual Policy Conditions may be amended by Endorsement or affected by state laws.

It’s the One You Never Saw Coming That Gets You

May 30, 2012 No Comments »

Is an Errors and Omissions Claim Looming for Your Technology Company?

Clients, prospects and friends in the tech community ask me all the time for examples of Errors and Omissions (“E&O”) claims.  Typically, it’s for one of two reasons; #1 – they want to assure themselves that what happened to “the other guy” or “that company” can’t/won’t happen to them or #2 – because they don’t understand the insurance product that a client or vendor is forcing them to buy and they want to know what it’s all about.

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Cyber Liability Vs. Database Coverage

July 29, 2011 No Comments »

There is a common misconception among those managing the risks of businesses that Cyber Liability automatically includes Database Coverage. It is logical to assume, based on the wording, but that would be a mistake.

Unlike a typical General Liability policy, Cyber insurance has no standardization of forms. Although the Cyber policy issued by some insurance companies would be broader, most respond to common technology accidents associated with computer networks: unauthorized access, virus, insider abuse of data, theft of intellectual property, loss of revenue, extortion, denial of service attacks, financial fraud, infringement of trade marks or copyrights, sabotage of data networks, public relations expense, notification expense and theft of personal and private information. BUT, in order to trigger a claim the loss must happen in the virtual world.

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