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General Liability
Protect your company from losses arising from accidents on your premises, including offices, warehouses, laboratories, test fields, and more
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General Liability
General Liability coverage protects the company from various claims that can arise from its operations. This includes coverage for bodily injury, property damage, and advertising injury that the company may unintentionally cause.
Protect your company from product-related defects and deficiencies that could lead to third-party bodily injuries or property damages
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Product Liability
Product Liability coverage provides protection against claims of injury or damage caused by the products the company develops, manufactures, or sells. This insurance can cover the costs associated with legal defense, settlements, and any court-ordered compensation.
Can vary significantly but often start at $1 million per occurrence with higher limits available based on the company's exposure and needs.
Deductibles
Deductibles for product liability can range significantly based on the risk, product type, and coverage amount but typically start at a few thousand dollars.
Why do you need Product Liability coverage:
Customer Trust
Demonstrates to customers that the company stands behind its products and is prepared to address any issues that arise.
Regulatory Compliance
In some cases, regulatory requirements might mandate that certain products carry product liability insurance.
Financial Risk Mitigation
Helps to mitigate the financial risks associated with unexpected costs from lawsuits related to product issues.
Settlements and Judgments
In the event of a settlement or judgment against the company, product liability insurance can cover these costs, which could otherwise be substantial.
Protect your company from technical mistakes and erroneous system behavior that may lead to third-party losses
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Technology Errors & Omissions
Technology Errors & Omissions (E&O) coverage is a professional liability insurance specifically designed for technology businesses. It provides protection against claims of negligence or inadequate work, specifically in the services or products that a technology company provides or develops.
Common limits range from $1 million to $5 million, but higher limits are available for companies with greater exposure.
Deductibles
Deductibles can start from $2,500 and up, depending on the company's size and the risk involved.
Why do you need Technology Errors & Omissions coverage:
Contractual Requirements
Often a contractual necessity, as clients want assurance that there will be financial recourse if the technology company fails to deliver as promised.
Legal Defense Costs
Provides for the defense of the company in a lawsuit, which can be prohibitively expensive without coverage.
Professional Service Protection
Protects the financial interests of the company if its professional services or advice fail to meet a client's expectations.
Credibility with Clients
Can increase a company's credibility and trustworthiness in the eyes of clients who know that there's financial backing in the event something goes wrong.
Protect your company from system hacks that could lead to first-party (your company) and third-party (your customers) damages
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Cyber Liability
Cyber Liability coverage supports enterprises in the event of a data breach or cyber attack. For technology companies that handle sensitive data and rely heavily on digital infrastructure, this coverage is vital.
Protect your company from third-party property damages and injuries to vehicle occupants, including automobiles you own or lease
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Commercial Auto
Commercial Auto coverage protects a company against financial loss resulting from auto accidents while a vehicle is being used for business operations. This includes coverage for bodily injury and property damage caused by the company's vehicles or employees driving for work purposes.
Commercial Auto Liability policies typically start with limits of $500,000 to $1 million per occurrence but can be higher depending on the business's risk exposure.
Deductibles
Deductibles for Commercial Auto policies can vary, typically ranging from $500 to $2,000, depending on the coverage selected.
Why do you need Commercial Auto coverage:
Legal Requirement
In most jurisdictions, businesses are legally required to have a minimum amount of auto liability insurance.
Employee Safety
Provides protection and peace of mind for employees who drive as part of their job.
Asset Protection
Protects the company's assets from being depleted due to costly accident claims.
Business Continuity
Ensures that the business can continue to operate without significant financial interruption following an auto accident.
Protect your company’s physical assets - like equipment, inventory, and buildings - against damages from theft, fire, and natural disasters
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Business Property
Business Property coverage protects the company’s physical assets from damage or loss due to events such as fire, theft, vandalism, and certain natural disasters. This insurance is essential for the repair or replacement of the company’s property, including buildings, equipment, and inventory.
We have a unique use case, so we need an insurance provider that understands robotics. Koop has become our go-to insurance partner as we scale our business!
We struggled to explain our technology to traditional insurance companies, and we couldn't get covered on time. Working with Koop was a great experience — they quickly got us the right policy!
Besides the great drone coverage we got with Koop, they also provide excellent customer service! If anything comes up with our drone operations, we know we can rely on them!
We were afraid that insuring our autonomous delivery bots would be a painful process, but Koop helped us without any problems. We are very happy to work with them!
We have a unique use case, so we need an insurance provider that understands robotics. Koop has become our go-to insurance partner as we scale our business!
We struggled to explain our technology to traditional insurance companies, and we couldn't get covered on time. Working with Koop was a great experience — they quickly got us the right policy!
Besides the great drone coverage we got with Koop, they also provide excellent customer service! If anything comes up with our drone operations, we know we can rely on them!
We were afraid that insuring our autonomous delivery bots would be a painful process, but Koop helped us without any problems. We are very happy to work with them!
For Brokers
Grow your book of business with a suite of exclusive insurance products and a zero-cost Enterprise Risk Management automation tool
For risks in the Technology space
Our suite of smart coverages fits various Technology use cases. Start a submission today to get a quote.
Founder Shield is thrilled to partner with Koop Insurance, a company with a new risk management approach and a broad appetite for emerging technologies. Together, we are committed to providing our clients with innovative and comprehensive insurance programs that meet their unique needs at various stages of development!