TechProtect™ is a package policy that has been specifically designed to cater for the insurance needs of technology companies. TechProtect™ includes CFC's widely-respected professional indemnity cover, which is sold by brokers in over 20 countries and has many unique features.
The package of covers under TechProtect™ varies according to the country where the technology company is based. However, in all countries CFC offers an extremely broad professional indemnity cover which includes claims arising out of any:
- Negligent act, error or omission.
- Breach of contractual duty.
- Breach of implied statutory terms.
- Breach of intellectual property rights.
- Breach of privacy.
- Libel and slander.
- Dishonesty of directors and employees.
- Claims made in the United States.
In Australia, New Zealand, Scandinavia, South Africa, the Middle East and the European Union TechProtect™ also includes public liability, products liability and pollution liability cover.
In Ireland, Canada, Scandinavia and the UK, we offer our broadest cover, TechProtectPlus™, which also includes property damage and business interruption cover with special features for technology companies.
In the UK, TechProtectPlus™ also includes:
- Cover for fidelity of employees and web site damage.
- Any one claim limits available for professional indemnity, dishonesty of employees and breaches of intellectual property rights.
- A payment for the costs of a public relations consultant to minimise reputational damage.
Wherever TechProtect™ is purchased it is a user-friendly, concise policy which avoids conditions precedent, due observance or other warranties and does not contain a cost guarantee exclusion, inherent defects exclusion or virus exclusion, as many other technology policies do.
What's more, premiums for TechProtect™ start from as little as GBP 1,000 (or other currency equivalent).
Target markets
TechProtect™ is available to most types of technology businesses. Overseas sales or offices are not a problem, even if they are in the United States, and many higher-risk technology companies can also be considered. Some examples of the types of companies suitable for TechProtect™ are:
software developers, software resellers, web-site designers, ASPs, network installation and maintenance, IT project managers, IT training, IT security consultants, PKI companies, general IT consultants.
Product variations
As a specialist market for technology risks, we have developed tailored solutions for niche areas within the IT industry. For example, we launched the first PCI compliant wording for IT security consultants (read press release), and we also have specific products for the computer games, mobile content, and online gaming industries.
Limits available
Up to:
GBP 5,000,000 (GBP10m for EL)
EUR 7,500,000 (EUR 13m for EL)
USD 5,000,000
(This is only a summary of the policy; reference should be made to the full policy wording).
Underwriter Contact
|
