The Buren Insurance Group, Inc. is a leading technology insurance company. The coverage we provide could aid in your business’s customer relations, as well as ensure that you have proper financial support in the event of a technology related lawsuit.
If you provide content, data support services, or information management for other businesses your firm could be liable for systems that fail because your work product or system design failed — or allegedly failed. In the absence of technology insurance, do you have the cash to defend against a suit brought on by a disgruntled client? You’re busy enough as it is. Do you have the staff and the time you’ll need to repair the damages created by a breach or compromise?
Your customers’ — and your own — emails, research, marketing plans, and financial reports are all stored in electronic form. That makes them easy to access, but it also subjects them to potentially damaging and embarrassing data breaches. Your clients and business partners trust you with their confidential information, and your respect for that confidentiality fosters and builds customer loyalty. Data breaches break customer loyalty and trust and have lasting repercussions on your relationships with current and future customers. It’s a loss that can’t be measured in dollars.
But the cost of a lawsuit can.
Your failure to keep client data secure could cost your company a substantial amount of money to comply with state or federal notification requirements beyond the cost of trying to salvage customer relationships. 40-50% of the costs associated with this type of insurance claim go towards legal defense.
Technology E&O/Cyber Liability/Network Protection Liability Insurance is one of the most misunderstood and under-utilized coverages available in the insurance marketplace. No two insurance programs are the same and no two businesses have the same technology insurance needs when it comes to matching your services to a policy.
It has been our experience as a technology insurance company that the Technology sector is fragmented and grossly underserved in respect to:
- The types of coverages you are advised to buy
- Management’s overall perception of risk
- How to properly insure your technology exposures
We look to partner with companies that want to take a more comprehensive approach when analyzing their insurance program; companies that are looking for ways to spend smarter when it comes to insurance.
Call a technology expert from a leading technology insurance company – The Buren Insurance Group, Inc. – today. We will help analyze your options and determine the best course of action to properly insure your firm’s technology exposures.