Technology Insurance
PIA has been tailoring insurance programs for internet and computer companies since the early 1980's. From small web page designers to ISPs offering a broad range of products including co-location, web hosting, e-commerce solutions, programming and software development, we have a program to protect you and your business.
Technology accounts have very unique coverage needs.
As a bare minimum you should carry:
- General Liability to insure against third party negligence claims.
- Property to insure buildings, office equipment, stock, loss of income, and inventory.
- EDP to insure your computer hardware and software equipment.
- Transportation and Cargo to insure goods in transit away from your premises.
- Professional Liability to insure against errors in advice or software failure.
- Crime to insure against employee theft, and theft of monies and securities.
- Peak Season Endorsements to insure additional stock and product during heavy production periods.
In addition to the above types of coverage you may need:
- Workers Compensation which is required by law if you have any employees.
- Auto Insurance if your company owns any vehicles.
- Umbrella Liability Insurance for extra protection.
Other considerations that we highly recommend are:
- Employment Practices Liability to insure against employee suits arising from sexual harassment, wrongful termination, and discrimination.
- Fiduciary Liability to insure against employee suits arising from employee benefit plans.
- Director's & Officer's Liability to protect your company and board from liability suits.
However, one of the most overlooked coverages for the new internet business is media liability. For any business who has a website, whether you are a technology account or not, you need to insure against media, publishing, advertising, patent and copyright infringement liability.
The CyberLiability Plus product is at the forefront of insuring the technology risk. Developed by Media Professionals and Gulf Insurance Company, this product captures several of the unique coverages associated with e-commerce.
FEATURES- Occurrence Form
- Cyberspace Activities specially crafted for the Account
- Combined Content and Errors, Omissions & Negligent Acts Coverage
- Personal Injury
- Copyright Infringement
- Trademark Infringement
- Unauthorized Access
- No Punitive Damages Exclusion (where allowed by law)
- 60 Day Automatic Coverage for Wholly-Owned Entities Created or Acquired during the Policy Period
- Universal
- $10,000,000 Policy Limit capacity
- Premiums start at just $1,000 for $100/300,000 Limits
OPTIONAL COVERAGES
- Split Limits
- Contingent BI/PD
- Multiyear Policy up to 3 years
- Prior Acts Coverage Qualified Accounts
CLASSES WRITTEN UNDER THE CYBER LIABILITY PLUS" PROGRAM
CyberLiability Plus is designed for entities whose primary business focus is the dissemination of information and/or performance of services utilizing on-line technology. The following is a list of classes written under the CyberLiability PLUSTM program. This list is not all-inclusive.
- Proprietary On-line Services
- Internet Access Providers
- Web Site Developers, Designers and Consultants
- Web Hosts and Administrators
- Web Site Owners
- Bulletin Board, Chat Room, Forum and News Group Hosts
- Cyberspace Software Developers
- Interactive Electronic Environments
- Internet Content Providers
- Intranet/Network/Extranet Hosts
- Managers & Consultants
- Search Engine Providers
- Electronic Commerce Providers
For a list of sample claims click here...