MediaTech

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. 

E&O

A wide range of technology-based services and technology products
Broad professional liability to address the need to cover non-technology professional
services
Unintentional breach of contract for professional liability exposure.

Media

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.

First-party

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

Third-party information security and privacy coverage
Full media liability
Regulatory defense and penalties
Payment card liability and costs.

eCrime

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.

For SME business we offer direct and digital access to this product via third party placement platforms or email placement, backed up with automated processing, to streamline and speed up the placement process.

The Beazley Difference

BEING BOLD

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. 