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Technology E&O - TechGuard®
Minimum Premium $1,500
In today’s increasingly digitized world, technology companies need an innovative insurance product that provides the broadest coverage for their complex and constantly evolving exposures. NAS’ TechGuard® product is our most expansive tech policy to date and is designed to be the one stop shop for a tech company’s E&O insurance needs. Furthermore, our program is backed by Lloyd’s of London — an A rated (excellent) company by AM Best — so you won’t have to worry about the protection being there when you need it the most.
Coverage Component Options Include:
Technology Errors & Omissions Insurance – Coverage for third party claims alleging a financial loss as a result of an error or omission committed by the insured in the provision of Technology Services. Featuring a broad open-ended definition of Technology Services. Coverage for unintentional breach of contract is included.
Security & Privacy Liability – Includes coverage for both online and offline information, virus attacks, denial of service and failure to prevent transmission of malicious code. Also extends coverage for defense costs and fines & penalties for violations of privacy regulations including but not limited to HIPAA, Red Flag Rules and the new Hi-Tech Act.
Multimedia Liability – Coverage for both online and offline media. Includes claims alleging copyright/ trademark infringement, libel/slander, advertising, false advertising, plagiarism and personal injury. Coverage for unintentional breach of contract is included.
Privacy Breach Responses Costs, Notification Expenses, Breach Support and Credit Monitoring Expenses – Includes all reasonable legal, public relations, advertising, IT forensic, call center, credit monitoring and postage expenses incurred by the insured for a privacy breach response.
BrandGuard® – Provides additional coverage to bridge a short-term drop in revenue as a result of negative press or customer notification resulting from a data breach.
Dependent Business Interruption (DBI) – Coverage offers reimbursement for lost revenue incurred as a result of a third party vendor’s system being down.
Network Asset Protection – Coverage for all reasonable and necessary sums required to recover and/or replace data that is compromised, damaged, lost, erased or corrupted. Coverage also includes business interruption and extra expense coverage for income loss as a result of the total or partial interruption of the insured’s computer system. Includes coverage for cyber terrorism.
Cyber Extortion – Will pay extortion expenses and extortion monies as a direct result of a credible cyber extortion threat.
Chief Underwriting Officer 818.808.4476
Vice President - Northeast Regional Underwriting Manager 617.849.7932
AVP, Mid-West Regional Cyber Manager 312.690.7111
AVP, West Coast Regional Manager 818.479.4305
Tina Porcelli Levine
Senior Underwriter - Southeast Region 818.479.4301
Worldwide coverage – claims can be brought outside of the U.S.
Full Limits are available for Regulatory Defense of a privacy claim
Property Damage exclusion does not include electronic data
Final Adjudication language for Defense for allegations of fraud or intentional wrongdoing
Broad definition of technology services – “including but not limited to” language
Acts committed by rogue employees are covered, as are claims from employees against the insured for breach of privacy
Defense Outside the Limits and First Dollar Defense enhancements are now available
Unintentional Breach of Contract claims are covered for Technology E&O
Full prior acts coverage available
Extended Reporting Period is available up to 3 years, but additional coverage may be available upon request.
Enhanced BrandGuard® coverage
Dependent Business Interruption coverage offers reimbursement for lost revenue incurred as a result of a third party vendor’s system being down
Limits and Premium
Up to $10,000,000 each claim/$10,000,000 aggregate