Connect insurance to the operation
Technology businesses can create both cyber and professional liability exposure. A useful program connects services, contracts, client systems, data access, security controls, vendors, intellectual property, and the financial impact of an error or outage. Coverage for technology advice, managed services, systems, client data, cyber events, contracts, and operational mistakes.
Emergency roles and immediate action
Review the current operation, credible loss scenarios, management controls, contracts, requested limits, and the policy terms intended to address this issue.
Reporting and evidence preservation
Review the current operation, credible loss scenarios, management controls, contracts, requested limits, and the policy terms intended to address this issue.
Continuity and recovery decisions
Review the current operation, credible loss scenarios, management controls, contracts, requested limits, and the policy terms intended to address this issue.
Risks that deserve specific attention
Alleged technology errors, failed implementations, missed deliverables, and client financial loss
Describe where the exposure occurs, who controls it, how frequently it arises, what could make a loss severe, and which documented controls are in place.
Data breach, ransomware, social engineering, privacy liability, and dependent-system interruption
Describe where the exposure occurs, who controls it, how frequently it arises, what could make a loss severe, and which documented controls are in place.
Contractual commitments, intellectual-property allegations, employee risk, and business interruption
Describe where the exposure occurs, who controls it, how frequently it arises, what could make a loss severe, and which documented controls are in place.
Coverage areas to coordinate
Technology errors and omissions and cyber liability
Confirm limits, deductibles, covered entities, locations, operations, exclusions, endorsements, and how this protection coordinates with the rest of the program.
General liability, property, business income, and crime
Confirm limits, deductibles, covered entities, locations, operations, exclusions, endorsements, and how this protection coordinates with the rest of the program.
Workers' compensation, EPLI, D&O, and umbrella or excess where appropriate
Confirm limits, deductibles, covered entities, locations, operations, exclusions, endorsements, and how this protection coordinates with the rest of the program.
Build a useful submission
- Describe every operation, ownership entity, location, service, customer type, and material change since the prior policy began.
- Provide current revenue, payroll, values, vehicles, equipment, contracts, and currently valued loss information when available.
- Explain significant claims, near misses, corrective action, safety procedures, training, maintenance, and management oversight.
- Identify requested effective dates, contract deadlines, lender or landlord requirements, desired limits, and deductible preferences.
Questions the review should answer
How will the program address alleged technology errors, failed implementations, missed deliverables, and client financial loss?
Connect the answer to the appropriate policy, limit, deductible, endorsement, exclusion, operational control, and recovery plan.
How will the program address data breach, ransomware, social engineering, privacy liability, and dependent-system interruption?
Connect the answer to the appropriate policy, limit, deductible, endorsement, exclusion, operational control, and recovery plan.
How will the program address contractual commitments, intellectual-property allegations, employee risk, and business interruption?
Connect the answer to the appropriate policy, limit, deductible, endorsement, exclusion, operational control, and recovery plan.
Frequently asked questions
What information helps prepare a Technology & IT Services insurance claims readiness review?
Start with a clear description of the operation, locations, ownership, revenue, payroll, property, vehicles, contracts, current insurance, and loss history. For technology & it services, pay particular attention to alleged technology errors, failed implementations, missed deliverables, and client financial loss, data breach, ransomware, social engineering, privacy liability, and dependent-system interruption, contractual commitments, intellectual-property allegations, employee risk, and business interruption.
Which policies commonly deserve attention for technology & it services?
The starting coverage areas include technology errors and omissions and cyber liability, general liability, property, business income, and crime, workers' compensation, epli, d&o, and umbrella or excess where appropriate. Actual needs depend on the operation, contracts, locations, people, property, vehicles, services, and available market terms.
Coverage descriptions are general. Eligibility, availability, limits, deductibles, valuation, exclusions, and policy terms vary by operation and insurance market. Actual policy documents control.