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February 20, 2003 11:41 AM

Categories: Operations and Legal

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vincem

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Joined: 05/23/2002

We are looking to purchase IP infringement insurance, along with Technology Errors & Omissions coverage.

We are having a difficult time even getting quotes (could be our small size?). So far we have a quote from The Hartford and another from Ace Global Markets (sold through Lloyds). The latter is less expensive (approx $6K for $1mm/$1mm/$10k deductible), but we have not seen the fine print and that could make all the difference.

Does anyone have suggestions or recommendations on carriers, experience with the above, tips to watch out for, etc?

Thanks much..

Discussion:    Add a Comment | Comments 1-3 of 3 | Latest Comment

February 20, 2003 12:16 PM

Did you check with your local software association? Sometimes they'll have good deals because they've partnered with a carrier who understands our biz. (We've got links to dozens of associations on our Industry Groups page.)

Also: I know nothing about these guys, but they came up in a search: http://www.techinsurance.com/ and http://www.insurenewmedia.com/ -- both claim to specialize in E&O/liability for tech companies.

(Of course, the fact that they came up in my search could simply mean they've got good webmasters -- but it might be worth getting free quotes.)

February 7, 2012 6:40 AM

I found a good UK alternative for called 'cyber liability insurance' which pretty much seems to cover businesses online in general.

Example here - http://www.macbeths.co.uk/business/cyber-liability/

February 9, 2012 9:58 AM

Good lead, Tony -- thanks. Unfortunately, they don't write policies for the US. With a little research, I found that a number of US companies offer "cyber liability" and "social media" insurance -- googling should turn up providers. The two I mentioned in my earlier post claim to specialize in IT companies -- but again, I am not endorsing them.

Discussion:    Add a Comment | Comments 1-3 of 3 | Latest Comment

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