What we offer
Beazley’s MediaTech policy form is streamlined and comprehensive to cover technology and business services companies seamlessly in the event of a claim and includes errors & omissions (E&O) and media coverage.
- A wide range of technology-based services and technology products
- Broad professional liability to address the need to cover non-technology professional
- Unintentional breach of contract for professional liability exposure.
- Online and offline media, including content published on social media, for companies
- involved in advertising their own products, as well as while performing services for others
- A wide range of trade secret misappropriation claims
- Unfair competition alleged with copyright or trademark infringement
- Mental anguish and emotional distress
- Defamation, invasion of privacy and plagiarism.
Cyber coverage includes:
Breach response costs
- Legal services
- Computer forensic services
- Notification services
- Call center services
- Credit monitoring, identity monitoring or other personal fraud or loss prevention solutions
- Public relations and crisis management expenses.
- Business interruption loss from security breach or system failure
- Dependent business interruption loss from security breach or system failure
- Cyber extortion loss
- Data recovery loss
- Data and network liability.
- Third-party information security and privacy coverage
- Full media liability
- Regulatory defense and penalties
- Payment card liability and costs.
- Fraudulent instruction
- Funds transfer
- Telephone fraud.
- Criminal reward
Limits up to $25m/€25m/£15m
How can we help
Our cyber & tech claims team’s experienced litigators have a deep understanding of the liabilities that technology companies face today, which we use to anticipate new needs on the horizon. We have helped our insureds through thousands of errors & omissions claims involving software failures, hardware defects, implementation errors and downtime, as well as intellectual property rights and personal injury disputes arising from media content.
Who we can help
- Software and hardware companies
- Systems integrators
- Technology outsourcers
- Technology consulting
- Internet services
- Combined hardware/software and business service providers
Where Is This Offered?
The Beazley Difference
Freedom lies in being bold. We dare to be different and seek bold possibilities to create more innovative, fair and satisfying outcomes for our clients, brokers and employees. From insuring the highest building in the world, to the first commercial lunar vehicle to operate on the moon - we boldly go where others won’t.
STRIVING FOR BETTER
Good is a start, but we go all-out for better. A driven community of individuals relentlessly push the needle and creating value. From launching the market’s first dedicated ESG syndicate to the establishment of our business unit focusing on designing digital insurance solutions, we pride ourselves on always going above and beyond. Simply put, at Beazley we go to 11.
DOING THE RIGHT THING
Acting with integrity in a straightforward, decent way is instinctive. Open and honest with others, we show respect and empathy however challenging the situation – demonstrated by our multi-award winning claims team. Doing the right thing makes for a fair-minded, rewarding environment and makes work and life better for all.
Examples or Scenarios
A healthcare consulting company was sued alleging that software developed by the insured technology company malfunctioned and resulted in errors in submitting claims to insurance companies for reimbursement. Claimant alleged if the software worked properly, the claims would have been covered by insurance. Beazley was able to assist the insured in negotiating defense counsel rates as well as a lower than expected settlement.
A software company developed a platform for a telecommunications company to analyze their customers’ broadband usage. The telecommunications company experienced an issue with the platform that led to the incorrect recording of the data usage. As a result, almost 100,000 customers had their broadband data usage incorrectly recorded. After the telecommunications company settled with a regulator to compensate the impacted subscribers, Beazley worked with the insured software company to retain expert defense counsel and resolve the matter.
The descriptions contained in this communication are for preliminary informational purposes only. Coverages are underwritten by Beazley Solutions International Limited on behalf of Beazley syndicates at Lloyd’s or Lloyd’s Insurance Company S.A. (“LLoyd’s Brussels” - a subsidiary of Lloyd’s and authorised by the National Bank of Belgium) or Beazley Insurance dac and will vary depending on individual country law requirements and may be unavailable in some countries. The exact coverage afforded by the products described in this communication is subject to and governed by the terms and conditions of each policy issued.