In the technology industry, companies that want to remain competitive need to be constantly evolving. Whether it is developing or implementing new technologies, or staying on top of the latest cyber threats, technology companies face an ever-changing set of risks.
For companies that often deal with sensitive personal and financial data, or that provide critical hardware and software for business and government, even minor disruptions or security failures can lead to costly claims. And every technology company has a unique set of liabilities and risk exposures.
That’s why Admiral offers unprecedented flexibility with its newly revamped AdmiralPro™ TEC coverage. Our Tech E&O and Cyber policy forms are now more user-friendly than ever, and our customizable approach means we are able to offer coverage tailored to the needs of tech companies of all shapes and sizes–from traditional companies such as payment processors, service providers, technology staffing firms, and security consultants, to companies working in emerging fields like machine learning and generative AI.
Comprehensive, Customizable Liability Coverage
While writing manuscripted coverage enables us to provide custom solutions, our standard policies offer some of the most comprehensive 1st and 3rd party coverage in the industry, helping tech companies protect their own business assets, while also protecting against claims from clients or other third parties using their products who are affected by cyber incidents. This includes coverage for:
- Data loss and restoration, business interruption, cyber extortion, and system failures
- Third party claims arising from data breaches, network security failures, privacy violations, and other liabilities.
- Costs and liabilities associated with investigations and regulatory proceedings.
- Financial losses resulting from clients withholding payment due to perceived errors or issues with service.
- Expenses incurred managing and restoring a company’s reputation following a covered incident.
What truly makes Admiral’s TEC coverage the best in its class, however, is our team of industry experts who support our brokers and their clients. Not only do we provide expert analyses of risk exposures that can help lead to risk mitigation strategies and lower premiums–we provide a 24/7 breach response service that guides clients through the breach response process, helping companies minimize the damage, comply with regulations, and protect their reputations.
AdmiralProâ„¢ TEC provides custom, industry-leading E&O and cyber liability insurance solutions for a broad range of technology companies. If you are a retail insurance broker, locate an Admiral wholesale partner . If you are a wholesaler, contact us about becoming a premier partner.
