In today’s litigious society, even small mishaps can result in large lawsuits. That’s why general liability insurance is essential for most companies. Liability insurance protects the assets of a business when it is sued for something it did—or didn't do—to cause an injury or property damage.

OneBeacon Technology Insurance™ also pays the insured business’ legal costs associated with a covered general liability claim or lawsuit. Covered claims include bodily injury, property damage, personal injury and advertising injury. Coverage applies for both compensatory and general damages. Punitive damages may or may not be covered by general liability insurance policies depending upon the prevailing laws in each state.

As with most all other coverages, not all general liability policies are created equal. In choosing OneBeacon’s general liability for technology companies, you obtain industry tailored, business-specific coverage with the following features:

  • Occurrence-based coverage for premises, operations and products for info tech companies
  • Additional insured – broad form vendors
  • Blanket additional insured primary and non-contributory (where required by contract)
  • Aggregate limit per location
  • Blanket waiver of subrogation
  • Bodily injury redefined – includes mental anguish
  • Broadened named insured – if more than 50% owned and up to 180 days
  • Broadened property damage for borrowed equipment and customers goods
  • Worldwide coverage territory – limitations on where suit is made
  • Medical payments expanded to three years and $10,000 limit
  • Newly formed or acquired organization coverage – to the end of the policy period
  • Non-owned aircraft and watercraft coverage
  • Product recall expense
  • Increased supplementary payments (bail bonds $2,500; expenses incurred $500 per day)
Appetite

OneBeacon’s general liability insurance for technology companies provides coverage for a broad spectrum of technology-based companies. Our portfolio consists of telecommunications companies, software developers and distributors, computer consulting firms, programmers, and network access hardware and software providers to name just a few. Our newest focus area includes solar industry companies.

Safety Tip

Protect Your Business Against Fraud

The advent of technology has enabled customers worldwide to shop virtually, whether online or on the phone. When dealing with remote customers it is critical that merchants protect themselves from fraud. Verifying the identity of a remote customer may be challenging due to distance, but it is well worth the effort to prevent fraud losses. The following discussion offers options for minimizing fraud activities and increasing your awareness of suspicious activities.