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Streamling Professional Liability for the Technology Industry.

By: dwight stuckey | Posten on: Sep 11, 2013 10:52:00 AM

safetytek highres2

The new SafetyTek process simplifies Quoting, Billing and the Renewals Process.

As Technology continues to grow and strengthen as a major differentiator for main street businesses, SafetyTek remains a leading insurance program to manage the industry risks.  SafetyTek  provides professional liability to a wide array of technology centric classes from Mobile Application Development to Financial Funds Transfer.  Now, the SafetyTek Program’s streamlined underwriting process simplifies Quoting, Billing and Renewals.


For 18 years, Stuckey & Company has managed the Technology Insurance Program for ACE USA, rated A + XV by AM Best.  Over the 18 years we have introduced many changes, including:  an nationwide admitted product, increased coverage to a Multiple Insuring Agreement, combined multiple coverages into one “SafetyTek Endorsement” providing more savings, and now we are introducing online credit card payments and automatic renewals.


Secure, online credit card payments are now used on over 70% of our business offering a new level of simplicity for our agents and their insured’s.  Each quote that is generated out of our system includes a secure credit card payment link.  When clicked our customers are shown the coverage and payment option they have selected and given the ability to immediately process the online payment, all secured by authorize.net and Network Solutions.


Automatic Renewals will begin with coverage renewal dates of January 1, 2014.  With automatic renewals qualifying SafetyTek customers will not be required to complete a new application on the anniversary date of the coverage.   Instead, the agent will receive emailed notification of coverage renewal detailing policy terms and instructions on how to process payment.


Dwight Stuckey, President and CEO of Stuckey & Company, says he is proud to be one of a very limited number of companies offering this forward-thinking insurance process. “The SafetyTek Program is helping to support the people, companies and innovation that drive the technology industry,” he says. “From the critical R&D companies looking at next generation technologies to the next mobile application designed for our always on, anywhere connection to the world”


The SafetyTek Program is available to licensed agents who register with Stuckey & Company as a licensed agent. (Agents can register online at http://www.stuckey.com/forms/register_agency.php.) Stuckey & Company has in-house binding authority on all lines that qualify, and offers quick turnaround on quotes, generally within 48 hours. The program is licensed in all 48 mainland states. For more information, visit http://www.stuckey.com/safetytek/technology/technology-insurance.php.


About Stuckey and Company

Stuckey & Company is a specialty insurance provider based in Lake St. Louis, Missouri. For 22 years, Stuckey has offered commercial, professional and personal lines of insurance. Stuckey & Company’s network of more than 8,500 licensed agents has the knowledge and experience in dealing with specific coverage not typically covered under standard policies. As one of the fastest-growing specialty insurance providers in the U.S., Stuckey & Company offers E&O coverage to over 150 classes in sectors that include technology and IT consulting, accounting and financial services, government services, media, laboratories and education. In addition to Stuckey & Company’s Tek Division, the company offers professional liability insurance to Architects and Engineers through the Aspire A&E Insurance Program. For information on the SafetyTek Insurance Program from Stuckey & Company, call Maggie Hammett at 1-800-828-3452 x 21.


Topics: mga, safetytek, it insurance, TECHNOLOGY, technology E&O, data loss insurance, data loss risk, mga insurance, IT E&O, technology insurance, professional liability, commercial lines insurance, cyber liability insurance, Stuckey & Company, TECHNOLOGY

What is general liability (GL) insurance?

By: Elizabeth Sedlock | Posten on: Sep 25, 2012 10:12:00 AM

According to AM Best, general liability (GL) insurance is “designed to protect business owners and operators from a wide variety of liability exposures. Exposures could include liability arising from accidents resulting from the insured's premises or operations, products sold by the insured, operations completed by the insured, and contractual liability.”

As an agent, you most likely have an extensive understanding of the different types of GL coverage as well as the different additions each client might need. However, do your clients really know what general liability insurance is and why they need it? That is the real trick when selling insurance: explaining coverage in a way that is clear to the client but is also specific enough to ensure the client knows what they are getting.

General Liability (freedigitalphotos.net)

When offering GL to your clients, make sure to itemize the major coverage areas. It is scary to hear that, as a business owner, you could be held responsible for injuries, even deaths, connected in any way to your business or property. Most people don’t even consider this side of things. Who wants to think that their business might cause serious bodily harm or even death to someone? GL gives the client peace of mind.

One tip is to incorporate interesting anecdotes when speaking to your clients about GL insurance. Below are a few examples of common GL claims:

- Injuries or deaths on job sites or at the business location

- Injuries or deaths attributed to a company’s product

- Libel, slander or defamation of character

- Property damage

Here is one example you can cite while talking to your service clients: while fixing an ice machine, one of your client’s employees accidentally allowed water to leak on the kitchen floor. Later, when the homeowner walked through the kitchen, she slipped in the water, fell and sprained her wrist. Is your client liable? Insurance is designed to safeguard and defend against situations like this.

It is important as an agent to help simplify why your clients need certain types of insurance. If you can show the necessity by tailoring the explanation to make it personal, you will help your clients make the right decision and have the right protection.

Topics: commercial lines insurance

Why Small Businesses Need a Business Owners Policy (BOP)

By: Elizabeth Sedlock | Posten on: May 25, 2012 9:46:00 AM

There are many different exposures facing business owners today, from standard property to general liability exposures.  It can be difficult for a business owner to discern all the types of coverage needed to be adequately protected.  Plus, it can be expensive.  That is where a Business Owners Policy or BOP insurance comes in. 

Stuckey BOP

A BOP policy, also known as Business Owners Insurance, is a great offering for your business owner clients for a number of reasons.  First, a BOP policy offers your clients convenience by bundling all the basic coverage a business needs into one plan.  A BOP policy includes the most critical commercial insurance coverage, including property and general liability.  Second, by bundling these coverages, the carriers that provide BOP policies can offer lower premiums.  The cost for a BOP policy is much less than getting mono-line general liability and mono-line standard property.  The general liability limits for these policies range from $1,000,000 to $4,000,000, depending on the policy.

There are many carriers that offer BOP policies, including Hartford, Travelers, CNA to name just a few.  You can shop around different carriers to ensure you get the best price for your client.  At Stuckey, we work with all these carriers; you can contact Kyle Dallavis (kyle@stuckey.com) of Stuckey’s Commercial group to learn more.

Topics: stuckey and company, commercial lines insurance

Who needs errors and omissions insurance?

By: Elizabeth Sedlock | Posten on: Apr 30, 2012 9:04:00 AM

According to TheFreeDictionary.com, errors and omissions is short-hand for malpractice insurance (also known as Professional liability insurance (PLI) or professional indemnity insurance (PII)) gives physicians, attorneys, architects, accountants and other professionals coverage for claims by patients and clients for alleged professional errors and omissions which amount to negligence.

Basically, anyone that performs or renders a good or service to another person or business needs errors and omissions insurance.  There are many types of policies that have expansions to include errors and omissions insurance as part of a larger package.  However, as a general rule, errors and omissions insurance is mono-line product for almost every class of business.  Stuckey and Company offers SafetyTek, an errors and omissions product specifically tailored for technology professionals.  For other professionals, Stuckey’s miscellaneous professional liability and commercial lines divisions can handle more than 350 different classes of business, ranging from accountants to wedding planners.

To learn more about the basics of errors and omissions insurance, visit the professional liability insurance Wikipedia page!

Topics: safetytek, professional E&O, MPL, commercial lines insurance

Do Your Clients Need Bond Insurance?

By: Elizabeth Sedlock | Posten on: Mar 16, 2012 11:17:00 AM

In an ideal world, everyone would feel compelled to do the right thing, all the time.  No one would ever dream of stealing property, of the intellectual or physical variety, from anyone else.  Unfortunately, we do not live in a perfect world.  We live in the real one, where there are some people who are interested in behaving in ways that are immoral or illegal.  No one can be completely certain that everyone with whom they work are honest people. 

Bond insurance is sometimes referred to as “employee dishonesty coverage.”  It might also be called fidelity insurance, fidelity bond, or crime insurance.  This type of insurance generally covers instances of forgery or alteration of data or information; funds transfer fraud; Bond insurance | Stuckey & Co.computer fraud; credit card fraud; and money order or counterfeit fraud.  This insurance can be used to compensate a client in case one of their employees or contractors steals money, physical property or intellectual property from the client while that employee is on the job.  Without this type of insurance, your client may be held responsible for paying back their client out of their own pocket. 

Many of your clients are trusted with some very sensitive information.  They may be working with software or data that includes the Social Security numbers of their clients, their credit card numbers, their account numbers, and potentially their billing addresses, or the number of their bank accounts.   Your client is being asked to take good care of the kind of information that can easily be used in identity theft or credit card fraud.  It is important for them to have bond insurance to give their own potential clients peace of mind.

In addition to information, your client could be trusted with property that would be very expensive to replace.  No matter how careful someone is, accidents can still happen.  Something your client or one of their workers does could cause irreparable damage to a client's computer, or other property.  It is always possible to lose track of something that belongs to a client.  If someone loses track of even one laptop, then there is potential that someone out there could get access to information that should not be shared.  Your client could be left holding the bag and paying heavily for this sort of mistake.

Insurance is a great way to protect your clients from the risk of financial hardship that can be caused when things go wrong.  It is a way to prevent dishonest people from causing your client great harm.  Stuckey & Company can help with our executive protection policy.  Learn more by contacting Kyle Dallavis or visit our website at www.stuckey.com.

Topics: Employment Practices, corporate insurance, employers liability insurance, commercial lines insurance, bond insurance, fidelity insurance


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