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Maggie Hammett

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Coverage Enhancements for Technology Professional Liability

By: Maggie Hammett | Posten on: Feb 24, 2016 3:28:57 PM

MPL_Business

Specialty Services

Professional liability offers third party coverage. Covering insured’s for wrongful acts when offering technology services and technology products to clients.   Coverage can also be enhanced to include Electronic Media Liability, Network Operations Security, and first party Data Breach Expenses.

Opportunity:

  • Size of Market:  $32B Industry
  • Average Premium:  $1,200
  • Minimum Premium:  $500

How to Quote:

Categories include:  

  • Technology Serivces and Products
  • Electronic Media Activities
  • Network Operations Security Services
  • Cyber Liability

Exposure Concerns:

Things to consider, is it a technology risk, or do they use technology to get their service across to clients.  How many years in the industry do they have or what is the experience of senior management? Are contracts in place?  We can help you and your clients understand technology insurance.

Key Questions:

  1. What services do they offer to clients?
  2. Do they have contract requirements?
  3. What industry to they serve?

 Coverage:

  • Revenues from $1k to $25M
  • Limits up to $5M
  • Deductible options ranging from $1k to $250k

Email Tech Underwriter  

 

If you think that you have a business or know of a business that provides these type of services and is in need of professional liability, please contact Stuckey & Company.







Topics: Stuckey & Company, Blog, safetytek, it insurance, professional E&O, professional liability, cyber liability insurance, IT E&O, errors and omissions

Specialty Services Professional Liability

By: Maggie Hammett | Posten on: Feb 19, 2016 9:05:42 AM

MPL_Business

Specialty Services

Specialty services range from Scientific and Technical systems, Manufacturing systems, Medical systems to Computer Aid Designs.  Typically these services are tailored to one subject matter, and a bit higher risk than a wide range of Information Technology Service most companies offer.

Opportunity:

  • Size of Market:  Over $3.2B in revenue
  • Average Premium:  $1,200
  • Minimum Premium:  $500

How to Quote:

Categories include:  

  • Computer Aided Design (Non-Structural)
  • Manufacturing Systems (Robotics, PLC, CAM)
  • Medical Systems
  • Scientific and Technical Systems

Exposure Concerns:

End use of system will determine the concerns.  Medical systems that monitor health or life support monitoring. Structural computer aid design; Scientific and Technical systems that offer model simulation for Department of Defense these are all high risk exposures.  Help your clients understand technology insurance.

Key Questions:

  1. What services do they offer to clients?
  2. What is the end use of system?
  3. What industry to they serve?

 Coverage:

  • Revenues from $1k to $25M
  • Limits up to $5M
  • Deductible options ranging from $1k to $250k

Email Tech Underwriter  

 

If you think that you have a business or know of a business that provides these type of services and is in need of professional liability, please contact Stuckey & Company.







Topics: Stuckey & Company, Blog, safetytek, it insurance, professional E&O, professional liability, cyber liability insurance, IT E&O, errors and omissions

IT Staffing Professional Liability

By: Maggie Hammett | Posten on: Feb 12, 2016 1:45:33 PM

MPL_Business

Information Technology Staffing

Information Technology Staffing includes identification and placement of personnel into an employment role. This can be for permanent or temporary placement; with a focus on placing technology engineers, consultants, programmers, or system administrators.

Opportunity:

  • Size of Market:  Over $20B in revenue
  • Average Premium:  $1,200
  • Minimum Premium:  $500

How to Quote:

Categories include:  

  • Information Technology Permanent Placement
  • Information Technology Temporary Placement

Exposure Concerns:

The biggest professional liability exposure is placing a properly trained person to fill a position.  Be sure they have the certification necessary to complete the job.  Doing criminal background checks on the staff you place will help reduce exposure.  Help your clients understand Technology Insurance.

Key Questions:

  1. Do they supervise placed personnel?
  2. Do they staff non IT personnel?
  3. Are criminal background checks in place?

 Coverage:

  • Revenues from $1k to $25M
  • Limits up to $5M
  • Deductible options ranging from $1k to $250k

Email Tech Underwriter  

 

If you think that you have a business or know of a business that provides these type of services and is in need of technology E&O, please contact Stuckey & Company.







Topics: Stuckey & Company, Blog, safetytek, it insurance, professional E&O, professional liability, cyber liability insurance, IT E&O, errors and omissions

Data Breach Extension to Professional Liability

By: Maggie Hammett | Posten on: Jan 21, 2016 4:27:00 PM

MPL_Business

Data Breach Coverage

Big Data Breaches are happening and it is a very scary situation.  Unauthorized access to personal, private, or sensitive information can be viewed or gathered via an unsecure network or even secured. Data may include personal health information, personally identifiable information, and trade secrets.

Opportunity:

  • Size of Market:  Over $100 Million in premium
  • Average Premium:  $1,200
  • Minimum Premium:  $500

How to Quote:

Categories include:  

  • Computer Security
  • Network Security
  • Network Security Software Development
  • E-Commerce
  • Mobile Solutions

Exposure Concerns:

Securing private, personal or healthcare information is an important key.  The use of passwords, firewalls, and security software is a great benefit of helping secure private data.  Also performing network reviews regularly, system backups and disaster recovery planning.  Being prepared for a data breach is just as important as preventing a data breach.  Data Breach and Regulatory expenses can be costly.  Provide your clients with computer professional liability that includes notification expense. 

Key Questions:

  1. Does the prospect store private data?
  2. Who are their clients?
  3. What types of industries does the risk serve?
  4. What written security policies does the prospect have in place?

 Coverage:

  • Revenues from $1k to $25M
  • Limits up to $5M
  • Deductible options ranging from $1k to $250k

Email Tech Underwriter  

 

If you think that you have a business or know of a business that provides these type of services and is in need of technology E&O, please contact Stuckey & Company.







Topics: Stuckey & Company, Blog, safetytek, it insurance, professional E&O, professional liability, cyber liability insurance, IT E&O, errors and omissions

Telecommunication Services Professional Liability

By: Maggie Hammett | Posten on: Nov 10, 2015 4:22:00 PM

MPL_Business

Telecommunication Services

Telecommunication is the exchange of information over significant distance, via electronic means.  This includes voice over the internet, videos, telephone services, and mobile wireless communications; as well as design, maintenance, analysis and security of that information.

Opportunity:

  • Industry Market:  Over $4.9B in revenue
  • Average Premium:  $1,200
  • Minimum Premium:  $500

How to Quote:

Categories include:  

  • VOIP Service Provider
  • Telecommunication Consulting
  • Telecom Switching System Software
  • Telephone System Network

Exposure Concerns:

Telecommunications for 911 or emergency call centers are a higher hazard class.  Securing the data being exchanged is very important.  Be sure your clients understand how computer professional liability will protect them. 

Key Questions:

  1. What do your clients do?
  2. What industry do they serve?
  3. What security procedures do they have in place?

 Coverage:

  • Revenues from $1k to $25M
  • Limits up to $5M
  • Deductible options ranging from $1k to $250k

Email Tech Underwriter  

 

If you think that you have a business or know of a business that provides these type of services and is in need of technology E&O, please contact Stuckey & Company.







Topics: Stuckey & Company, Blog, safetytek, it insurance, professional E&O, professional liability, cyber liability insurance, IT E&O, errors and omissions

Web Services Professional Liability

By: Maggie Hammett | Posten on: Oct 13, 2015 9:09:00 AM

MPL_Business

Web Services

Web services allow different applications from different sources to communicate with each other.  While a web designer is concerned with how the site looks, including content.  A web developer handles the back-end of the website, and focuses on the programming and interactions on the website.  Application service provider will provide access to applications over a network.  This allows businesses to outsource their technology needs.

Opportunity:

  • Size of Market:  Over $20.1B in revenue
  • Average Premium:  $1,200
  • Minimum Premium:  $500

How to Quote:

Categories include:  

  • Online Advertising Services
  • E-Commerce
  • Web Application Development
  • Web Hosting
  • Website Design including Graphics

Exposure Concerns:

Infringement of copyright, trade dress, and trade secret can be exposure concerns for any web service provided.  Be sure your prospects have procedures in place to protect themselves.  Help your clients understand Computer Professional Liability.

Key Questions:

  1. Which web services do they offer?
  2. Who do they offer their services to?
  3. Do they have procedures in place to keep from infringing upon others?

 Coverage:

  • Revenues from $1k to $25M
  • Limits up to $5M
  • Deductible options ranging from $1k to $250k

Email Tech Underwriter  

 

If you think that you have a business or know of a business that provides these type of services and is in need of professional liability insurance, please contact Stuckey & Company.







Topics: Stuckey & Company, Blog, safetytek, it insurance, professional E&O, professional liability, cyber liability insurance, IT E&O, errors and omissions

Instructional Services Professional Liability

By: Maggie Hammett | Posten on: Oct 1, 2015 2:31:00 PM

MPL_Business

Instructional Services

Information Technology training must include the skills necessary for performing IT related tasks.  IT training services relate to application, design, develop, support of computer based information systems. Technical Writing encompasses analyzing technical information and conveying it in a clear manner to another person.  Not only do they convey information though text, but must be proficient with computers as well.

Opportunity:

  • Size of Market:  Over $150 Million in revenue
  • Average Premium:  $1,200
  • Minimum Premium:  $500

How to Quote:

Categories include:  

  • Information Technology Training & Education
  • Technical Writing

Exposure Concerns:

This is a slightly lesser risk than actually creating, designing, and implanting information technology services.  As technology evolves, not having the knowledge and experience is the biggest exposure. Help your clients understand Computer Professional Liability. 

Key Questions:

  1. Who are their clients?
  2. What are they training or writing about?
  3. What is the end use of the training and writing?

 Coverage:

  • Revenues from $1k to $25M
  • Limits up to $5M
  • Deductible options ranging from $1k to $250k

Email Tech Underwriter  

 

If you think that you have a business or know of a business that provides these type of services and is in need of professional liability insurance, please contact Stuckey & Company.







Topics: Stuckey & Company, Blog, safetytek, it insurance, professional E&O, professional liability, cyber liability insurance, IT E&O, errors and omissions

Hardware & Software Sales Technology E&O

By: Maggie Hammett | Posten on: Aug 19, 2015 1:33:00 PM

MPL_Business

Hardware and Software Sales

Computer hardware is the physical part of a computer, including the digital circuitry, as distinguished from the computer software that executes within the hardware.  Hardware Assembly Services are involved with installing computer hardware and peripherals.  Software sales are reselling of packaged software, developed for sale to general public, designed to appeal to a large audience of users.

Opportunity:

  • Size of Market:  Over $100 Million in revenue
  • Average Premium:  $1,200
  • Minimum Premium:  $500

How to Quote:

Categories include:  

  • Computer Hardware Re-Sales
  • Off-the-Shelf Software Re-Sales

Exposure Concerns:

The primary focus is on troubleshooting and problem solving, basic installations, and upgrading hardware.  Software sales, packaged software, majority of liability lie on the developer.  Packaged software developers would include Microsoft; Oracle; SAP; Symantec; etc.  Protect your clients with computer professional liability coverage.

Key Questions:

  1. Does the prospect develop hardware or software?
  2. Who are their clients?
  3. What types of industries does the risk serve?
  4. What is the end use of the hardware or software?

 Coverage:

  • Revenues from $1k to $25M
  • Limits up to $5M
  • Deductible options ranging from $1k to $250k

Email Underwriter  

 

If you think that you have a business or know of a business that provides these type of services and is in need of professional liability insurance, please contact Stuckey & Company.







Topics: Stuckey & Company, Blog, safetytek, it insurance, professional E&O, professional liability, cyber liability insurance, IT E&O, errors and omissions

Computer Network Services Professional Liability

By: Maggie Hammett | Posten on: Jul 17, 2015 8:39:00 AM

MPL_Business

Computer Network Services

Computer Network is a group of computer systems and other computing devices that are linked together though communication channels.  These are used to communicate via fax, email, voice and video conferencing.  There are many types of networks including:  Local Area Networks; Wide Area Networks; Enterprise Private Networks; The Internet.  This can also encompass, consulting and installing network computer system, designing systems, and monitoring network systems.

Opportunity:

  • Size of Market:  Over $15 Billion in revenue
  • Average Premium:  $1,200
  • Minimum Premium:  $500

How to Quote:

Categories include:  

  • Computer Security (original & custom development)
  • Computer Security (off the shelf firewall)
  • Data Restroation
  • Disaster Recovery
  • Hardware Installation & Maintenance
  • Network Design
  • Software Installation & Maintenance
  • System Design & Engineering
  • Real Time Network Monitoring

Exposure Concerns:

We’ve all heard it..Network Breach or Privacy Breach.  The Unauthorized access to a computer network, where as personal information has been stolen.  Company laptops that may contain clients’ financial information, along with private data, are at risk. 

Key Questions:

  1. Do prospects have a written network security policy?
  2. Who are their clients? 
  3. What types of industries does the risk serve?

 Coverage:

  • Revenues from $1k to $25M
  • Limits up to $5M
  • Deductible options ranging from $1k to $250k

Email Underwriter  

 

If you think that you have a business or know of a business that provides these type of services and is in need of professional liability insurance, please contact Stuckey & Company.







Topics: Stuckey & Company, Blog, safetytek, it insurance, professional E&O, professional liability, cyber liability insurance, IT E&O, errors and omissions

Software Consulting & Development Technology E&O

By: Maggie Hammett | Posten on: Jun 18, 2015 2:08:00 PM

MPL_BusinessSoftware Consulting and Development

Software developers have creative minds, that allow the rest of us to process technology devices easier.  A software company may engage in providing custom computer programming, which often leads to a variety of additional services, such as computer software design and analysis, modification of existing software and training on the use of the software.

Opportunity:

  • Size of Market:  Over $190 Billion in revenue
  • Average Premium:  $1,200
  • Minimum Premium:  $500

How to Quote:

Categories include:  

  • Accounting/Financial/Payroll (no funds transfer)
  • Business Application Software Development
  • Database Design & Maintenance
  • Business Process Automation
  • ERP/CRM Implementation & Maintenance
  • Document Management Systems

Exposure Concerns:

Of course the largest concern is a technical issue.  What if your clients system crashes, 24 hours after you upload a custom software or application developed specific to this client?  Your client is looking to you for answers.  Look to Stuckey & Company for Technology insurance.

Prohibited Services include:

  • Gaming software

Key Questions:

  1. What is the end use of the software?
  2. What type of risk management procedures does the risk have in place?
  3. Who are their clients?
  4. What types of industries does the risk serve?

 Coverage:

  • Revenues from $1k to $25M
  • Limits up to $5M
  • Deductible options ranging from $1k to $250k

Email Underwriter  

 

If you think that you have a business or know of a business that provides these type of services and is in need of professional liability insurance, please contact Stuckey & Company.







Topics: Stuckey & Company, Blog, safetytek, it insurance, professional E&O, professional liability, cyber liability insurance, IT E&O, errors and omissions

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