One of the biggest risks in the technology industry is technology itself – even without any physical damage, the impact of a cyberattack, data breach, or just plain failure can be catastrophic. The kinds of exposures that a single event can generate are complex and numerous, with potential issues related to liability, data privacy, and disruption of services, among others. Of course, this list of exposures is constantly evolving and changing, meaning that your situation must be continuously revised. We review potential security risks and contractual agreements to help assure that our clients are well-protected both from a technical and insurance perspective.
That being said, the technology industry is still exposed to some of the more traditional risks that other companies face. Because even small mistakes can be expensive and hard to track down, we make sure our clients have an appropriate program in place for managing professional liability.
High impact areas we review:
- Adequacy and breadth of Professional Liability coverage
- First- and Third-Party Cyber exposures
- Coordinating Crime and Social Media Fraud coverage
- Customer Contract Negotiation support
- Service disruption
Industry Insights with Mitch
We’ve seen just about everything you can imagine, and then more. Here are a few examples of what we’ve accomplished for our clients.
Case Study – US-Based International Compliance Organization
A US-based organization overseeing cyber-security compliance processes for many global companies needed better management of the insurance coverage review process for hundreds of its international service providers. We were engaged to manage this part of their process. We’ve not only improved the quality of their oversight, but have helped companies around the world to reach our client’s insurance requirements.
Every industry and every company is unique, with vastly different risks to manage. We've become experts in many fields and have saved a lot of time and money for our clients.
”Not only is he an undeniable expert in what he does, he’s responsive and has a knack for breaking the most arcane insurance-speak into terms that even I can understand.
“Generally speaking, there are conversations that I look forward to more than a conversation about the insurance needs of my clients. Truth be told, there is dental work that I enjoy more than conversations about insurance.
But within two weeks of hiring Mitch Davis, people on my team were singing folk songs about him. Not only is he an undeniable expert in what he does, he’s responsive and has a knack for breaking the most arcane insurance-speak into terms that even I can understand. We’ve given him multiple assignments–many with a high degree of sensitivity–and he’s delivered on all of them. Mitch has become more than a consultant, he’s a trusted advisor that is a valued part of our team. And that’s a conversation I’m always willing to have.”Andy FreedVirtual Management, Wakefield, MA