Tech Professional Liability Covers Countersuit From Fee Collection

Ed Rozak is the president of N2Net, a Cleveland area internet service provider. The company was started in 1995 offering dial-up only. Now, it operates its own data center with a focus on voice services and phone systems. 

Rozark was working in his office one day when one of his...

Read Full Story Here:
http://www.insurancefortechs.com/tech-professional-liability-covers-countersuit-fee-collection.html

Are Third-Party Apps a Threat To Your Business?

More and more businesses have been allowing employees to use their personal mobile devices as a primary means of communication in the workplace.  The increased usage of employee-owned smartphones, though convenient, can also pose a serious risk to security; questions may also arise concerning...

Read Full Story Here:
http://www.insurancefortechs.com/thirdparty-apps-threat-business.html

Architecture and Engineering: Managing New Risks in a Rapidly Changing Industry

Paul Dietrich and Brad Gow
The architecture and engineering professions are undergoing a period of unparalleled change brought about by rapid advances in computing and communications. Technology has transformed everything from project design to client communications in the daily practice of the...

Read Full Story Here:
http://www.insurancefortechs.com/managing-new-technology.html

Online Small Business Insurance Quotes

Small businesses perform most of the professional services within the U.S. economy. As a result, they have the greatest need for Professional Liability (Errors and Omissions Liability) insurance. The major problem with small businesses obtaining Professional Liability (Errors and Omissions...

Read Full Story Here:
http://www.insurancefortechs.com/tech-insurance-reports-small-business-needs.html

High E&O Limits Difficult For Small Tech Accounts

We were recently approached by a small tech prospect who requested a $10,000,000 Errors & Omissions Liability limit (AKA Professional Liability) to comply with contractual requirements of a project owner. Our primary E&O market for tech accounts is approved to handle limits only up to...

Read Full Story Here:
http://www.insurancefortechs.com/high-eo-limits-difficult-for-small-tech-accounts.html

Managing New Technology Risk Notes

Frangos, Alex, “With 3-D Drawing Software, Freedom Tower Architects Put Mind’s Eye on a PC Screen,” The Wall Street Journal (Jul. 7, 2004). See http://webreprints.djreprints.com/1055491238420.html.
“Hammurabi’s Code of Laws,” Laws 229-233, translator L.W. King. See...

Read Full Story Here:
http://www.insurancefortechs.com/managing-new-technology-endnotes.html

Proactive Safeguarding of data Key to Protecting Bottom Line

Businesses can no longer afford to treat data security as just another problem for the IT department: it’s now a mission-critical issue for the executive suite. Companies that fail to adequately protect personal information not only run the risk of lawsuits and legal penalties, but also...

Read Full Story Here:
http://www.insurancefortechs.com/protecting-data-security.html

Most Common Sources Of Tech Lawsuits

IT professionals such as computer consultants, web designers, programmers, system integrators, etc. face lawsuit risks from their clients and users of their client’s services. The most common sources and corresponding insurance policies are outlined below:
1. Bodily Injury And Property...

Read Full Story Here:
http://www.insurancefortechs.com/most-common-sources-of-tech-lawsuits.html

Data Breaches Growing Rapidly: Tech Companies Uninsured

Over the past two and a half years, there have been over 225 million reported consumer data breaches. This year alone, there have been more than 30 million reported security breaches of consumer data. No one knows the actual numbers since it is suspected that most security breaches are...

Read Full Story Here:
http://www.insurancefortechs.com/data-breaches-growing-rapidly-tech-companies-uninsured.html

Cyber Risk As Serious As Current Financial Crisis

“We are experiencing a financial meltdown due to a fundamental misunderstanding and mismanagement of modern financial systems, which is generating a crisis of confidence in our core institutions. Today, all our critical infrastructures are reliant on cyber systems that are also...

Read Full Story Here:
http://www.insurancefortechs.com/cyber-risk-as-serious-as-current-financial-crisis.html