Wishes and predictions for technology E&O

Jennifer Smith, vice president of Lockton Cos., has a few wishes and predictions for the technology errors and omissions market. In this segment from the complete interview with Insurance Journal’s Andrea Wells at a PLUS meeting in late 2007, Smith says as the tech E&O world continues to evolve, underwriters will become more savvy, and more standardized on coverage terms.

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User Comments

  1. Peter Hyde

    June 24, 2008 at 1:27 am

    Re: Jennifer Smith’s predictions. We at JLT (Jardine LLoyd Thompson Limited) in London already market a Network Asset Product which affords ‘Non-Physical Business interrupton’ coverage.

  2. Larry Harb

    June 25, 2008 at 12:29 pm

    At IT Risk Managers we has a number of markets that can write BI for technology companies or companies that use technology. However, we would like to see more carriers offer the coverage; it would help bring the cost of coverage down.

    With regards to patent coverage, we wrote it 10 years ago with Lloyds and the claims got to be too costly, but she is right, it made selling coverage easier.

  3. John Wurzler

    June 25, 2008 at 12:34 pm

    Re: Jennifer Smith’s comments. CNA though the NetProtect 360 coverage form does already offer the business interruption coverage she discusses in her remarks.

  4. Mary Scantin

    June 26, 2008 at 10:44 am

    Hiscox also have a great technology E&O product and will provide cover for first party losses. Check out their Enhanced Privacy Liability form which also provides third and first party costs cover for notification costs etc associated with a breach of privacy claim http://www.hiscoxusa.com.

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