Coverages

This helps protect your business from certain lawsuits alleging injuries or property damage that occurred as the result of your business operations – like if customers hurt themselves at your workplace or an employee damages a customer’s property while fixing their computer at their home. It even helps cover certain claims of slander and libel against your business. Commercial Liability insurance does not cover liabilities directly arising out of the professional services you provide.

General Liability insurance coverage includes protection for claims involving Injury or death to customers, volunteers, and visitors. Each policy is designed to protect the policyholder against lawsuits, claims-made related to bodily injury of others, and property damage to the rented premise. Accident Medical coverage pays for the medical bills of an injured client or visitor incurred while participating in sponsored events.

This is protection in the event of an action or proceeding against the insured by clients, customers or contractual requirements for the performance, reliability, security and functionality of the service, application or product provided to them. Such charges may include performance failures, downtime, negligent acts or failure to deliver, support or secure the product or service. Various forms of Cybercrime usually fall under this category. Contractual Liability, or failure to perform to contract, is usually covered here also. As reliance on technology increases so do the risks technology companies face when providing services, so Professional Liability is a key component of every Technology & Services insurance package.

Crosslet and The Hartford offer a unique and specially designed Professional Liability package called FailSafe. It’s designed just for the Technology & Services Community.

The FailSafe program bundles all the primary coverage & features unique to the Technology & Services business world in one comprehensive and very affordable package. It provides coverage consistent with what most contracts require of tech companies, making choosing the right coverage easier and affordable.  For more about FailSafe & examples click here

This affordable plan helps protect against the professional risks your Technology & Services business is most likely to face. Coverage can also include the acts of your independent Contractor s. Such charges may include negligent acts, criminal or sexual misconduct, Errors & Omissions and much more.

FailSafe packages may include:

• Data Privacy & Security Liability
• Intellectual Property
• Personal Injury & Media Liability
• Contractual Liability
• Copy Infringement of Software code
• Cybercrime Protection
• Software failures resulting in downtime or customer losses
• And much more!

For more about FailSafe Professional Liability & Examples click here

Our Spectrum® BOPs bundle multiple small-business insurance policies into a single package, offering broad-coverage convenience at a lower cost. Most technology service professionals, IT and computer consultants benefit greatly from a Business Owner’s Policy (BOP). Why? Because it helps protect your technology business in much the same way a homeowner’s insurance policy helps protect your home and personal possessions.

By combining the basic insurance coverages that are important to virtually every small business, including technology service, IT and computer professionals, a BOP can help save you money while safeguarding what you’ve worked hard to build.

Our Spectrum® Business Owner Package (BOP) includes everything you need, and the extras are optional so you can tailor your plan to suit your business & budget.

You can easily and affordably add optional coverages to the Spectrum® BOP:

• Business Income Extension for Cloud Service Interruption
• Business Income Extension for Off-Premises Operations
• Cybercrime Coverage
• Data Breach Insurance Coverage
• Employment Practices Liability Insurance
• FailSafe Technology Professional Liability (Errors & Omissions) Liability

Business Property & Equipment Coverage: Covers furniture, fixtures, equipment & inventory for your building, storage buildings, or other structures your business owns or leases.

Workers' Compensation is required by most states if your business has employees. This covers your employees if they become ill or injured while performing their duties in the course of their job responsibilities. Accidents (including auto accidents), and all kinds of on the job injuries are covered.

Did you know medical expenses for work-related employee auto accidents are the responsibility of the employer?

So, who qualifies as an employee? Hourly or 1099 only W2 regular wage earners?
Hint: Simply paying someone on a 1099 basis makes no legal or insurance distinction. You may be surprised to know some individuals legally qualify without a weekly paycheck, and the business is responsible for their Workers' Compensation!
Click here for more information

Very Important example: Florida law requires all employers to be financially responsible for any/all employee accidents, illnesses and injuries regardless of the number or type of employees. Thus, business owners are required to purchase Workers' Compensation coverage (with only a few exceptions which we will cover below). Under a Workers' Compensation policy, employees are fully insured for medical expenses and compensated for occupationally incurred injuries, regardless of fault.

One important benefit of Workers' Compensation is most states have laws protecting businesses who properly insure employees to protect them from many personal injury negligence lawsuits from employees.

Think about it...
Workers' Compensation is more than just insurance!

Regardless of the number of employees, every business is 100% responsible for any and all job-related employee accidents, injuries and illnesses. That’s why Workers' Compensation insurance is good business for every business.

As an employer, YOU are the one who pays for the employee’s injuries. STOP thinking of Workers' Comp as Insurance!
More importantly, having Workers' Compensation insurance helps to protect employers from employee injury lawsuits, both real and groundless. Get Covered NOW

Commercial Auto is insurance coverage for business vehicles and cars owned in your company’s name. The policy is designed to insure the listed drivers and vehicles used for ordinary business activities. Commercial Auto Insurance and Hired Non-Owned Auto Insurance protect you and your employees when they drive company owned vehicles or their own personal vehicle for business reasons! It is important to understand that the Personal Auto Policy does not cover business use of vehicles!

Hired & Non-Owned Auto (HNOA) insurance is very important. The company is usually held responsible for job-related employee auto accidents and injuries. This extends the company’s Commercial Liability insurance to cover auto liability for the use of personal vehicles for business use such as meetings, errands and more.
Workers' Compensation usually covers all the employee medical bills; however, the company still has the liability risk exposure for the other parties’ injuries and property damage. This is where Hired & Non-owned auto insurance extends protection.

So the opening sentence (while long) reads “Property losses of many kinds can interrupt business operations for hours, days, even weeks! But what about business interruptions NOT related to property losses?

Think about it...

Internet Failures, Natural Disasters (however distant), Power Outages & Outside System failures causing interruption to you or your client’s operations?

• Can’t use the office because of tornado/flood/fire damage?
• Your biggest customer closed their doors and can’t pay you?
• A critical business employee is out of work due to a car accident?
• Your cloud-based business management system was hacked and you cannot run your business for 3 weeks?
• You can now protect your Income from glitches in Cloud Services.

We can cover the Loss of Your Business Income

Business Income insurance is designed to reimburse the business for actual losses sustained from a wide range of covered incidents ranging from offsite power outages (like natural disasters) to systems downtime and loss of business due to equipment & internet failures. This also helps cover the loss of income when you can’t run your covered business because of covered property damage.

Protection for your personal tools, inventory & equipment carried by you and used on the job or customer location. Inland Marine Insurance covers property in transit from worksite to worksite, so it’s perfect for independent Contractor s and those who work at customers’ or temporary locations. It’s also important to insure equipment and inventory in the possession of the business before it’s delivered or installed.

Unfortunately, not every employee is an honest one. Some employers even suffer from rogue employees who steal sensitive company or customer information or cause intentional business interruptions to your business operations. This coverage can help recover after a loss from employee theft of physical, financial and IT business proprietary assets.