Brokers: Overcome Fear of Patent Insurance

Garrett Koehn, president of Northwestern US for Crump Insurance Services, authored his first intellectual property and technology related coverages in 1995, working Yahoo, Excite, and others in the Silicon Valley. Here in an interview at the 2011 PLUS Conference with Insurance Journal and Claims Journal, Koehn discusses one form on IP insurance, patent insurance, and why brokers must overcome their fear of it.
Video Rating: 5 / 5

Technology Insurance – Liability Coverage In The Digital Age

Article by Madison Lockwood









Any young occupant of a corporate workplace who has had their PC crash knows the feeling of dread when the IT expert emerges from the basement, rambles into the cubicle and says “Alright. What did you do?” It seems, however, that has IT has absorbed the science of networking and has also grown increasingly complex, liability for software firms, IT firms and internet businesses has become an issue that transcends the cubicle occupant.

Technology insurance is in essence liability insurance. It is designed to protect software and IT companies whose programming errors result in business setbacks for corporations using their products and services. Further, technology insurance refers to policies that protect internet businesses from unauthorized release of private information held on their servers. There are some principal categories of technology insurance that mirror, to some degree, the general categories of business liability.

* Technology errors and omissions insurance provides protection if your software or programming fails to perform as promised, or if errors in programming or product structure result in major client problems. “Cyber liability” in general addresses first- and third-party risks associated with e-business, the Internet, networks and informational assets

* Directors and Officers liability insurance is now available to those functioning in the startup and IPO arena. This insurance covers the principal players not in established firms so much as in those that fail to deliver the commercial success that early investors anticipated.

More specific forms of technology insurance include specific policies relating to:

* Network management* Computer consulting* Online transactional business* Disaster recovery* Data processing/programming services* Intellectual property insurance

With any liability insurance policy, the question of how much you need is directly related to how much you are protecting in the way of assets. One of the important components of liability insurance in any of these fields is coverage for legal expenses. Businesses attempting to quantify damage to their functionality and put a price to their losses as a result of digital malfunction are going to be faced with a complicated burden of proof. Obscure issues generally mean longer periods of deliberation and higher legal bills.

In the case of protection from online theft from hackers, the liability parameters for those sorts of incidents remain largely undefined. There have been no major cases where awards were made in class actions due to the release of thousands of individual’s private records.

Websites that provide a platform for online business transactions usually have a policy agreement that users must read and check off before they can utilize the site. That probably cuts down on frivolous lawsuits over sour transactions, but it does not provide anything like complete protection for the site operator.

This is “first person and third person” coverage that is somewhat different from standard product liability insurance because the only product the site provides is the transaction platform itself. Nevertheless, insurance covers the inevitable legal activity that any business involved in any fashion with a high volume of transactions is going to encounter.

The answer to “how much should I have?” is “consult your broker.” Liability insurance hasn’t changed; only the tools for mismanagement and the types of errors have changed. A good insurance broker can assess what coverage is necessary and clauses are “window dressing” provided by the underwriter.



About the Author

Madison Lockwood is a customer relations associate, specializing in small business development, for Apollo Hosting. Apollo Hosting provides website hosting, ecommerce hosting, vps hosting, and web design services to a wide range of customers.










Intellectual Property Enforcement Insurance

Intellectual Property (IP) Abatement (Enforcement) Insurance assists IP holders in enforcing their intellectual property rights against alleged infringers. The insurance provides funds and services to enable policy holders to more effectively negotiate, protect and enforce their IP rights. There are several strategic reasons to carry intellectual property enforcement insurance: To strengthen the owners negotiation position and licensability of intellectual properties; To provide enough funds to support a strong legal front, thereby increasing the likelihood of a favorable outcome; To make funds available when necessary, rather than utilize operating capital or attempt financing; To limit the risk of unsuccessful litigation through more informed decision making; and, It includes IPISCs Litigation Management and Early Intervention services.
Video Rating: 5 / 5

Technology insurance from ALC Risk Solutions in Miami, Florida includes property, liability , workers comp and auto insurance supplemented wtih Technology Professional Liability Insurance, Internet Liability Insurance, Cyber Crime Insurance, Network Security Insurance, Privacy Insurance, Idenitity Theft Insurance, Intellectual Property Insurance, Patent Insurance and Media Liability Insurance depending on your technology business insurance needs. Visit www.alcrisk.com for more information about technology insurance from ALC Risk Solutions and Insurance in Miami, Florida.

Thoughts About Knowing Electronics Insurance Coverage – Liability Coverage In The Digital Age

Article by Carol Quinton









Any younger occupant of a company office who has had their PC crash knows the feeling of dread when the IT knowledgeable emerges from the basement, rambles into the cubicle and says “Alright. What did you do?” It appears, nonetheless, that has IT has absorbed the science of networking and has also grown increasingly complex, liability for software firms, IT corporations and web businesses has turn into a difficulty that transcends the cubicle occupant.

Know-how insurance is in essence legal responsibility insurance. It’s designed to protect software and IT companies whose programming errors result in enterprise setbacks for firms using their products and services. Further, technology insurance coverage refers to policies that shield web businesses from unauthorized release of personal info held on their servers. There are some principal classes of expertise insurance coverage that mirror, to some extent, the overall categories of enterprise liability.

* Technology errors and omissions insurance offers safety in case your software program or programming fails to carry out as promised, or if errors in programming or product structure end in major consumer problems. “Cyber legal responsibility” typically addresses first- and third-party dangers related to e-enterprise, the Internet, networks and informational belongings

* Administrators and Officers legal responsibility insurance is now accessible to those functioning in the startup and IPO arena. This insurance coverage covers the principal players not in established corporations so much as in people who fail to deliver the business success that early traders anticipated.

Extra specific types of know-how insurance coverage include specific policies relating to:

* Community administration * Computer consulting * Online transactional business * Catastrophe recovery * Data processing/programming providers * Intellectual property insurance

With any legal responsibility insurance policy, the question of how much you want is directly related to how much you are defending in the way in which of assets. One of many essential parts of legal responsibility insurance coverage in any of these fields is coverage for authorized expenses. Businesses making an attempt to quantify injury to their functionality and put a value to their losses on account of digital malfunction are going to be faced with an advanced burden of proof. Obscure issues generally mean longer intervals of deliberation and higher authorized bills.

Within the case of protection from online theft from hackers, the legal responsibility parameters for those types of incidents remain largely undefined. There have been no main circumstances where awards had been made in class actions as a result of release of thousands of individual’s private records.

Websites that provide a platform for online enterprise transactions normally have a policy agreement that users should read and test off before they will utilize the site. That probably cuts down on frivolous lawsuits over bitter transactions, but it surely doesn’t provide anything like complete protection for the site operator.

That is “first person and third person” coverage that is considerably different from standard product liability insurance coverage as a result of the only product the location supplies is the transaction platform itself. Nevertheless, insurance covers the inevitable legal activity that any business involved in any trend with a high volume of transactions goes to encounter.

The reply to “how much ought to I’ve?” is “consult your broker.” Legal responsibility insurance hasn’t modified; only the tools for mismanagement and the types of errors have changed. A good insurance broker can assess what coverage is critical and clauses are “window dressing” offered by the underwriter.



About the Author

If you want additional facts with reference to errors and omissions stop by Hailey C Brelewe’s web page forthwith.










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