Insurance firm provides FailSafe for technology companies

The Hartford, an insurance provider best known for its TV commercials featuring a huge deer, is now offering a FailSafe for technology solution providers.

The company’s new suite of professional liability offerings, called FailSafe, tries to address the needs of technology companies with expanded coverage for data, systems and networks.

Joe Coray, vice president of The Hartford’s Technology & Life Science Practice, said professional liability is one of the most significant risks for technology companies today. An alleged failure of a product or service that causes economic loss to a client’s business can result in a costly lawsuit and reputational damage.

According to The Hartford’s data, professional liability claims against technology companies average more than $200,000. Most of these claims include allegations of breach of contract, failure to perform or negligence, and can often also involve issues of liability for loss or corruption of client data.

The Hartford’s FailSafe product suite offers professional liability coverage for technology companies of all sizes. Available enhancements to The Hartford’s FailSafe suite include:

  • Broader coverage for data loss, security and damage caused by rogue employees;
  • Extended liability coverage for a technology company’s activities on its own computer system and networks; and
  • ‘Claims made’ policy forms that ease reporting requirements.

The Hartford has also launched HFP Pronto for FailSafe, an agent portal that offers a submission process, online collaboration capabilities for agents, customers and underwriters, as well as risk management and insurance shopping resources.

Would you recommend this article?

Share

Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.


Jim Love, Chief Content Officer, IT World Canada

Featured Download

CDN Staff
CDN Staffhttps://channeldailynews.com
For over 25 years, CDN has been the voice of the IT channel community in Canada. Today through our digital magazine, e-mail newsletter, video reports, events and social media platforms, we provide channel partners with the information they need to grow their business.

Related Tech News

Featured Tech Jobs

 

CDN in your inbox

CDN delivers a critical analysis of the competitive landscape detailing both the challenges and opportunities facing solution providers. CDN's email newsletter details the most important news and commentary from the channel.