Technology Insurance – What is it?
It’s an organization insurance policy that is for businesses in the high-technology market, which usually can be an increased level of risk. Usually it will not cover technology, per se, but sometimes it may. Technology Insurance delivers coverage for organizations that concentrate in products and services for numerous technology-centered markets. Many of the large tech. companies you hear about on the public stock market have very large amounts of coverage for their hardware, software and other liabilities they have.
With technology insurance you can rest assure that your intellectual properties in addition to your whole business is covered. The difference between this insurance and others is that it focuses on technology within the terms and covers a more broad aspect of liabilities in the tech. industry.
What may be covered in a Technology Insurance policy?
- Warehousing for data
- Damage done to computers from virus
- Protection of small business
- General Liability
Who needs Technology Insurance?
There are many organizations that can benefit from technology insurance. Some of the firms that can benefit from this type of coverage are internet-based, electronic, biotechnology, software, information technology, sustainable and renewable energy, telecommunications and other businesses involved with technology. Many people these days automatically think of internet-based companies when they hear the term “technology” but in reality internet-based firms are just a fraction of industries that should seek technology insurance.
If you feel that your organization can benefit from technology insurance, give us a call to speak with a representative at Miller Carlisle Insurance Services to receive a quote and understand all the benefits of Technology Insurance. You will be pleasantly surprised by how well we can maximize your coverage while keeping the insurance coverage premiums affordable and well within your budget.