Technology: The Core of Remote Living
Technology has become not only the core of our work lives, but also our everyday lives. We rely on technology now more than ever. For those who are still working from home and living a more confined lifestyle, it’s been an adjustment. Over the past year and a half, we have relied on technology for everything from running our businesses to staying in touch with family members. The increased use of technology has resulted in an increased need for technology service providers.
Technology professionals are creating consulting startups that are commonly hired by small businesses. They are addressing the technological needs of their clients and should maintain technology errors and omissions to protect themselves from financial losses. Not only could a loss result from a technology failure, but also from a cyberattack. Without coverage, these startups could go out of business.
USLI offers the coverage technology professionals must have to stay protected for both their errors and omissions and cyber needs. Our form offers broad coverage and is a catchall for these professionals. Claims can range from errors and omissions to media liability to network security liability. Our product offers all coverages on one convenient policy.
Our appetite ranges from startups to larger operations with up to $15 million in revenue. Eligible classes include application developers, application service providers, cloud providers, database administrators, IT consultants, software developers and website designers.
Our policy includes coverage for:
- Personal injury
- Network security liability
- Privacy liability
- Full cyber liability
Buying insurance is a great way to help your clients stay protected. We offer a $1 million limit of cyber extortion coverage on our packaged technology product. We also offer a Privacy Breach Expense endorsement that pays the costs associated with responding to a privacy breach on your behalf.
The marketplace is filled with opportunities to sell technology errors and omissions coverage. You can take advantage of this in many ways, such as networking with technology professionals by joining trade groups with local chapters and incubators who house startup technology firms. Additionally, technical staffing firms often require professional liability coverage for the professionals they place, and you can help close that gap.
USLI offers a comprehensive packaged product that will give your client the coverage they need. This coverage is more important than ever as we continue to work and live in a remote environment. There is a need for technology errors and omissions, and we want to make sure your clients are protected.
As always, thank you for your support and business.
Contact Meredith Bennett
Vice President, Underwriter | 888-523-5545 Ext. 2598
Written by Erika Cordivari
September 2, 2021