Venture Insurance Programs (www.ventureprograms.com), a national program administrator and provider in the design and underwriting of select industry-focused insurance packages, reported that its Venture Technology has added a new comprehensive package solution.
The technology package product is through OneBeacon Insurance Group (www.onebeacon.com), rated “A” (Excellent) XIV by A.M. Best Co. and is available in all states as well as internationally. Coverage includes property, general liability, auto, workers’ compensation, umbrella, and errors & omissions. It is suited for hardware manufacturers, software developers, telecommunications firms, medical technology firms and federal government contractors.
“By offering this comprehensive package, we’re expanding Venture Technology beyond its primarily West Coast workers’ compensation focus,” said George Tsui, executive vice president of Underwriting for Venture Programs. “We’re excited to have OneBeacon as our newest underwriting partner and to offer a more competitive technology program for agents and brokers across the country.”
OneBeacon’s technology package includes property, GL, auto, umbrella and international coverage on one policy with features such as:
* Broad property, GL and auto coverage enhancements;
* Flexibility with multiple coverage levels and pricing;
* Worldwide protection with admitted and non-admitted coverage, global package policies using OneBeacon’s global endorsements and a foreign correspondent network; and
* E&O coverage with “pure” claims-made, an easy-to-read coverage form, and security breach and intellectual property coverage for third parties.
Venture Technology is an all-lines insurance and risk management solution underwritten through a network of insurance carrier groups, marketed exclusively through agents and brokers, and available in all states. Technology risks insured through Venture have access to Venture’s risk management services and RMIS, including loss control and claims management specifically designed for the technology industry.