Hiscox USA, part of the Hiscox Group, a provider of specialty insurance, is now licensed to provide technology errors and omissions (E&O) insurance to U.S. businesses directly from its two New York locations.
Neil Bolton, lead Technology, Media & Telecom underwriter at Hiscox plc in London said the same coverage that is made avalabke to large scale technology clients will now be offered to middle-market IT companies in the U.S.
This insurance will be written on a non-admitted basis through Hiscox USA’s two New York locations in Manhattan and Armonk and is currently available to brokers throughout the U.S.
Notable features of the Hiscox USA Technology E&O insurance include:
* Breach of contract due to software, hardware or firmware not conforming to specification
* Breach of security
* Liability arising out of breach of contractual indemnity relating to any
infringement of intellectual property rights or breach of confidence
* Duty to defend cover
* Defense and indemnity coverage for unfair competition claims in
conjunction with intellectual property infringement
* Software as both the provision of a service and the supply of goods
* Fees you are owed by a client that are justifiably withheld due to
dissatisfaction with your performance
Source: Hiscox USA
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