Tech//404 : By Allied World

Tech//404^® for Technology Providers Overview

Traditional insurance coverage was created for a business world in which physical, tangible loss was clearly evident. Business risk has evolved. Today, intangible assets rule over tangible.

In 2004, Forrester Research cited that over 70% of the value of Fortune 500 companies was attributed solely to their information assets. Similarly, the liability of information has also exploded onto the scene, with headlines of ID theft, network outages, and email viruses. Insurance coverage must evolve to keep pace with today’s information risk. That’s why Allied World created Tech//404^® for technology providers.

Tech//404^®for technology providers is the first specialty liability insurance product of its kind to address the exposures of traditional businesses that are highly dependent on technology, leaving themselves open to liability associated with network security and data privacy. Tech//404 specifically addresses both technology and information risk in a single policy.

Traditional businesses who use technology within highly regulated industries for data privacy and information management are particularly at risk for information or technology losses. Tech//404 can be an important element in an enterprise risk management program for these organizations. Learn more about specific coverage features of Tech//404 for technology providers.

Areas of Exposure Addressed

Errors and omissions (failure to perform, without the restriction of “for a fee”)
Third party business interruption
Network Security (unauthorized access, ID theft, loss of data)
Data privacy (unauthorized use, invasion of privacy)
Compliance with HIPAA, GLB, CA 1386 and other data privacy regulations
Media and online content (libel, slander, defamation, virus transmission)
Third party loss of data
Intellectual property (patent, copyright, trademark)
Defense against governmental investigations for data privacy

Underwriting

Access to underwriters with extensive technology experience.

Claim Scenarios // Printable Documents // Application

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