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Specialty Services Professional Liability

Posted by Maggie Hammett on Feb 19, 2016 9:05:42 AM

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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

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