Travelers Property Casualty has launched its Advanced Technology Program, comprised of insurance coverages specifically designed to address the increasing demand by high-tech manufacturing, communications, software and computer-related services for sophisticated insurance solutions.
Tom Cornwell, vice president and chief underwriting officer for Travelers’ Advanced Technology Program, remarked, “Technology companies must partner with knowledgeable insurers, since it’s easy to underestimate, or overlook, the unique exposures facing a market segment that reinvents itself nearly every day.”
Travelers Advanced Technology Program targets small, start-up companies as well as mature companies with specialized proprietary coverage forms designed to protect customers from the unique hazards of these industries. The products offered within the program include:
Errors & Omissions (E & O), including reimbursement of contract costs (less profits) within the damage definition.
Denial of Service endorsement that protects against an increasingly common occurrence—the invasion of computer systems operations.
Start-Up Operations Plus, a flexible approach to the special business income needs of start-up companies—such as costs associated with business interruption, as well as research and development.
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