Eric Lonsinger
Tech Insurance
Insurance for tech companies is more important now than ever. Recent years have brought an explosion in innovation with companies providing a variety of technologies and services, which often come with unique insurance requirements. After all, a company that develops and sells software has very different needs when compared with a company that say, consults on security practices.
At Ford we understand these differences and are experienced in designing insurance packages to suite your operation and exposures. Insurance language can get complicated, and a nuance in an off the shelf policy can easily leave your business vulnerable to devastating consequences.
We understand your business
The best way to avoid undesirable outcomes is to work with a company who not only understands their product, but also understands your business and how the two converge.
We offer insurance for technology companies at all stages of growth including:
- IT\Computer Consultants
- Application Development
- Software Development
- Web Design & Development
- Cybersecurity
- Computer Service & Repair
- Project Management
- Managed IT Service Providers
- Telecommunications
- Network Design
- IT Training
- And many more
Whether you’re a one person show, Series A startup or mature organization we’ll work with you to define your short term and long term needs as you focus on driving your business.
"I've been in your shoes"
I’m not kidding. Prior to joining Ford Insurance I worked in Tech for nearly 20 years. I’ve been fortunate enough to work for a number of technology startups and the companies that acquired them.
During my career I found myself working in every aspect of the business including, you guessed it! Insurance. Early on I remember knowing our software company needed insurance but, not knowing what kind, how much and really, what for?
I share this because traditionally tech and insurance have existed in two different worlds – I’m happy to bring my knowledge and experience in the tech industry to the process of identifying and acquiring the right coverage for my clients. I know it can be daunting, but when you find the right people it doesn’t have to be.
Key Coverages for Tech Companies
General Liability
Often referred to as business liability, general liability protects businesses from general claims that arise out of normal day to day operations. Coverage is considered 3rd party, meaning it protects against injuries and property damage to others. Liability coverage is a must have insurance for tech companies.
Professional Liability (Errors & Omissions)
Often referred to as Errors and Omissions (E&O) Insurance, professional liability helps cover you and your business if you make a mistake in the services provided to a customer. Even if you did not make a mistake but your customer believes you did and sues you, this coverage will help pay for your defense.
Cyber Liability
We live in a digital world and most businesses, even those traditionally considered “offline” continue to have an increasing digital footprint. Technology brings incredible capabilities to our fingertips. Unfortunately, it also brings additional risk. Cyber coverage has become increasingly popular to mitigate the impact of data breaches, downed computers and networks and the losses that result.
Business Auto
Also referred to as commercial auto, business auto can be very straightforward (insuring vehicles your company owns) but also confusing (i.e. using personal vehicles for business). While many of the coverages are similar to that on a personal auto policy, the limits and conditions can be very different and may vary based on the use of the vehicle.
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