Preventive Insurance Designed for Deep Tech

Policy Limits

Often range from $1 million to $2 million per occurrence with a general aggregate limit that may double the per occurrence limit.

Deductibles

Can vary widely depending on the company’s risk profile but typically may start from $500 to $1,000 per occurrence.

Why do you need General Liability coverage:

Client Requirements

Clients often require a technology company to carry General Liability insurance before entering into contracts.

Lease Agreements

Landlords typically require General Liability insurance as part of a commercial lease agreement.

Financial Protection

Helps protect the company's financial assets in the event of a covered claim or lawsuit.

Legal Defense

Provides legal defense if the company is sued, even if the lawsuit is groundless or fraudulent.

Product Liability

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.

What it covers:

Design Defects

Defective Warnings or Instructions

Manufacturing or Production Flaws

Policy Limits

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.

Technology Errors & Omissions

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.

What it covers:

Negligence

Errors in Service

Omissions

Breach of Warranty or Contract

Policy Limits

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.

Cyber Liability

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.

What it covers:

Data Breach Response

Data Recovery

Cyber Extortion

Business Interruption

Network Security Liability

Policy Limits

Limits can range widely, from $1 million to $10 million or more, depending on the company's risk exposure.

Deductibles

Deductibles vary based on the size of the company and the risk profile but can start anywhere from $5,000 to $25,000.

Why do you need Cyber Liability coverage:

Contractual Obligations

Clients and partners may require evidence of cyber liability coverage before engaging in business arrangements.

Client Trust

Assures clients that the company is proactive about cybersecurity and prepared to handle incidents responsibly.

Regulatory Compliance

Companies are often required to adhere to strict data protection regulations, and non-compliance can lead to hefty fines.

Increasing Cyber Threats

With the prevalence of cyber attacks, a technology company is at a higher risk for potential breaches and system disruptions.

Management Liability

Protect your company from wrongful acts of directors and officers, including lawsuits brought by customers or investors

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Management Liability

Management Liability (ML) coverage provides financial protection for the company’s board members and officers against personal losses as a result of legal actions brought for alleged wrongful acts in their capacity as directors and officers.

What it covers:

Legal Defense Costs

Settlements and Damages

Regulatory Actions

Company Indemnification

Personal Asset Protection

Policy Limits

ML policy limits can range significantly, often from $1 million to $25 million or more, depending on the size of the company, the risks involved, and the personal net worth of the directors and officers.

Deductibles/Self-Insured Retentions

Deductibles can vary based on the policy but typically start at $10,000 or higher.

Why do you need Management Liability coverage:

Legal and Regulatory Exposure

Addresses the increased risk of litigation and regulatory scrutiny faced by technology companies, particularly in areas like privacy, financial reporting, and intellectual property.

Shareholder Actions

Provides defense and indemnity coverage in the event of lawsuits brought by shareholders, especially for decisions that may affect share prices.

Personal Financial Protection

Safeguards the personal assets of individuals who serve as directors or officers against claims that could lead to personal financial loss.

Business Judgments

Protects against claims related to mismanagement, breach of fiduciary duty, and other wrongful acts associated with managing a company.

Commercial Auto

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.

What it covers:

Bodily Injury Liability

Property Damage Liability

Uninsured/Underinsured Motorist Coverage

Medical Payments/Personal Injury Protection

Policy Limits

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.

Business Property

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.

What it covers:

Buildings

Contents

Computer Equipment

Data and Media

Business Interruption

Policy Limits

The limits of coverage can vary widely but typically match the value of the property and the potential income loss during a restoration period.

Deductibles

Deductibles can range from $500 to $25,000 or more, based on the value of the insured property, the company's risk profile, and policy specifics.

Why do you need Business Property coverage:

Lease Agreements

Often a commercial lease will require tenants to carry adequate Business Property insurance for spaces they occupy.

Asset Protection

Provides financial protection to ensure the company's assets are repaired or replaced quickly after a loss.

Regulatory Requirements

Businesses might be required to have property insurance to comply with industry regulations.

Operational Continuity

Helps a business recover from a property loss without significant downtime or interruption to operations.

Inland Marine

Protect your company from damage to property, equipment, or materials while in transit or at a third-party storage facility

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Inland Marine

Inland Marine coverage provides protection for a company’s property while it is in transit over land, as well as property at fixed locations that is typically mobile in nature or involves unique or valuable equipment that standard property policies may not cover adequately.

What it covers:

Transportation

Mobile Equipment

Bailee's Coverage

Property in Transit

Exhibitions and Trade Shows

Policy Limits

Limits for Inland Marine coverage are often tailored to the value of the equipment and exposure of the property being insured.

Deductibles

Deductibles for Inland Marine policies can vary depending on the type of equipment covered, but they typically range from $250 to $1,000.

Why do you need Inland Marine coverage:

Contractual Agreements

Clients or partners may require proof of this coverage to ensure that their property is protected.

High-Value Equipment

Technology equipment can be very expensive, and the loss of it can significantly impact the financial stability of the business.

Protection for Mobile Property

Technology companies often have assets that are frequently on the move and need coverage that extends beyond the premises of their office or warehouse.

Offsite Coverage

Ensures that property is covered not just at the main business location but also when it is at client sites, off-site locations, or in transit.

Intellectual Property

Protect your company from intellectual property theft or infringement, including defense costs if you are accused of stealing intellectual property

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Intellectual Property

Intellectual Property (IP) coverage protects a company from the financial losses associated with legal issues pertaining to intellectual property rights. This includes coverage for litigation costs and damages related to allegations of IP infringement.

What it covers:

Defense Costs

Damages and Settlements

Prosecution Coverage

IP Asset Protection

Cyber IP Risk

Policy Limits

Coverage limits for IP insurance policies can range significantly, usually from $500,000 to $5 million or more, depending on the company’s exposure and valuation of IP assets.

Deductibles

Deductibles can vary widely but often start at $10,000 or more, depending on the nature of the IP covered and the underwriter’s requirements.

Why do you need Intellectual Property coverage:

Contractual Obligations

Businesses may need to prove they have IP coverage to fulfill contractual obligations with clients or partners, especially in licensing agreements.

Global Market Exposure

As companies expand globally, they are exposed to IP risks in various jurisdictions with different laws and enforcement practices.

Litigation Costs

Legal defense for IP litigation can be extremely expensive and can threaten a company's financial stability.

Revenue Stream Security

Protects the revenue streams that are directly tied to patented products or proprietary technologies.

Employment Practices Liability

Protect your company from wrongful acts of the employment process, including wrongful termination and workplace discrimination

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Employment Practices Liability

Employment Practices Liability (EPL) coverage protects a company against claims by employees alleging wrongful acts arising from the employment process. This includes legal defense costs, settlements, and judgments related to a variety of employment-related offenses.

What it covers:

Wrongful Termination

Workplace Harassment

Discrimination

Breach of Employment Contract

Failure to Promote or Employ

Policy Limits

EPL insurance policy limits typically range from $1 million to $25 million, depending on the size of the company and its exposure to employee claims.

Deductibles

Deductibles for EPL policies are variable and can range from $2,500 to $50,000 or more, based on the underwriter’s requirements and the risk profile of the company.

Why do you need Employment Practices Liability coverage:

Rise in Employee Litigation

There is a growing trend of employee lawsuits, which can be very costly to defend against and settle.

Regulatory Compliance

Helps companies keep up with the ever-changing employment laws and regulations.

Defense Costs

Even if a claim is groundless, defense costs can be substantial and can impact the company's finances.

Financial Protection

Offers financial protection against the high costs associated with settlements or judgments.

Workers’ Compensation

Protect your company from losses arising from lost wages, medical bills, and rehabilitation costs associated with employee illness or injury

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Workers’ Compensation

Workers' Compensation coverage provides benefits to employees of a company who suffer work-related injuries or diseases. This mandatory coverage ensures that workers receive medical care and compensation for a portion of the income they lose while they are unable to work due to their work-related injury or illness.

What it covers:

Medical Expenses

Disability Benefits

Death Benefits

Rehabilitation Costs

Legal Representation

Policy Limits

Workers’ Compensation is typically structured with no upper limit on the coverage for medical expenses, rehabilitation costs, and disability benefits.

Deductibles

Workers' Compensation insurance typically does not have a deductible for the employer, as the coverage is designed to completely protect employees from work-related injuries.

Why do you need Workers’ Compensation coverage:

Legal Requirement

Most states require employers to carry Workers' Compensation insurance, and penalties for non-compliance can be severe.

Medical Care and Lost Wages

Ensures that employees have access to medical care and compensation for lost wages due to work-related injuries or illnesses.

Employer Liability Protection

Protects the company from lawsuits by injured workers seeking compensation for injuries or illnesses.

Business Continuity

Allows business operations to continue smoothly in the event of worker injury or illness.

Umbrella/Excess

Protect your company from liability exposure with no underlying coverage or where you need higher limits for underlying policies

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Umbrella/Excess

Umbrella/Excess coverage provides an additional layer of liability protection for a company. It kicks in when the underlying liability policy limits (such as general liability, commercial auto liability, or employers' liability) are exhausted, offering an extra safeguard against large-scale legal claims or judgments.

What it covers:

Additional Coverage Limits

Legal Defense Costs

Catastrophic Protection

Policy Limits

Excess/Umbrella policies often start at $1 million in coverage and can go up to $10 million or more, depending on the company’s needs and exposure.

Deductibles/Self-Insured Retentions

Deductibles are typically not applied to Umbrella/Excess coverage in the same way they are with primary policies.

Why do you need Umbrella/Excess coverage:

Contractual Requirement

May be required by clients, especially for significant contracts, indicating strong financial backing and risk management.

Large Loss Protection

Provides financial security in the event of a large claim that exceeds primary policy limits.

Legal Claim Trends

Helps manage the risk associated with the trend of increasing legal settlements and judgment amounts.

Financial Viability

Assures stakeholders that the company is a financially viable partner capable of withstanding substantial financial liabilities.