Property and casualty insurance provider The Hartford (HIG) has enhanced its FailSafe suite of professional liability offerings to tackle risks of technology firms.
The enhanced suite, which offers professional liability coverage for technology firms of all sizes, will offer broad coverage for data loss, security and damage made by fraud employees, and ‘Claims made’ policy forms for simple and easy reporting.
In addition, the enhanced suite will also offer extended liability coverage for a technology firm’s activities on its computer system and networks.
HIG technology and life science practice vice president Joe Coray said that an alleged failure of a product or service that causes economic loss to a client’s business can result in a costly lawsuit and reputational damage.
In addition, HIG launched agent portal HFP Pronto for FailSafe, which provides a streamlined submission process and online collaboration capabilities for agents, customers, and underwriters.
"We continue to invest in technology solutions to make it easier for agents to help our customers obtain professional liability coverage that truly addresses their evolving business needs," Coray added.