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Risk Management and Insurance Solutions for Technology Firms & Federal Government Contractors
We offer significant experience and expertise in the technology industry. Currently we service tech firms ranging in size from individual programmers and consultants to firms with international operations. We specialize in the following 4 distinct sectors of the tech industry: |
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Software and Computer-Related Services (IT) |
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Electronics Manufacturing |
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Telecommunications |
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Life Sciences (BioTech) |
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However, we can also service firms in other sectors of the technology industry – such as emerging markets like nanotechnology.
Our coverage solutions include: |
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Commercial Package Policy |
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Management Liability |
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International Liability |
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Technology Professional Liability (E&O) |
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Commercial Auto |
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Umbrella |
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Workers’ Compensation |
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Defense Base Act (Iraq & Afghanistan) |
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| Your business is complicated enough without having to analyze risks and worry about lawsuits. Allow us to evaluate your risks and create a policy designed to protect your most important asset – your business. |
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A Couple Scenarios…
You own a small computer software business that installs and often customizes accounting software for national retailers. One morning a customer calls you and tells you that their auditor has discovered that a large number of journal entries that were input correctly have been misclassified due to an error in your software.
Panic sets in. But you develop a plan and fix the software code immediately. However, your customer incurs substantial accounting fees due to the misclassifications. Fees for your customer’s auditor to review all the affected transactions and make corrections totaled $100,000. Now your customer sues you for those fees.
Are you covered?
You run a successful, sophisticated technology company that designs Web sites. Once day, you’re hired by CheapoMart to create a Web site where they will sell their products at great low prices. So you create an ultra slick sight and install a customized order management software package. Everything is great.
Until… a month after launch, the company finds that the software is assessing a tax on all orders. Except CheapoMart isn’t authorized to collect such a tax. CheapoMart’s accountants tell them the money must be refunded. The cost: $400,00
But it gets worse. CheapoMart is then sued by one of their big competitors, alleging that the look and feel of CheapoMart’s new web site is very similar to their own, infringing on several of their copyrights and trademarks. CheapoMart decides to fight and names you as a third party. They lose. It costs you another $700,000.
Are you covered?
We understand the complexities of Professional Liability insurance. From our very first conversation with you, we will start to evaluate your risks and get a feel for how your business operates. |
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Do you sell internationally? |
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Who are your primary customers? |
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Are you currently engaged in intellectual property litigation? |
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How does your company provide technical support to customers? |
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Do you plan to grow through acquisitions? |
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| After gaining a clear understanding of your business and risks, we can then offer you the coverage you need. |
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