Published: September 26, 2011
Hartford Insurance offers a technology insurance package that includes an endorsement for errors and ommissions insurance. See below the different coverages available.FailSafe® is The Hartford’s suite of professional liability products for technology businesses.FailSafe® is available in three increasingly powerful forms:
- MEGA – coverage part to SPECTRUM provides up to a $2M limit of Technology Errors & Omissions coverage for your technology clients with revenues of $5M or less. You may request FailSafe mega coverage in ICON when submitting your SPECTRUM account. No other application is required. FailSafe Mega is not available for SC Xpand risks.
- GIGA – this mono-line Technology E&O policy provides limits up to $10M and includes Breach of Warranty coverage.
- TERA – our flagship policy with up to $10M in available limits includes four coverage parts: Errors & Omissions, Content, Personal Injury and Security and may be customized for individual clients.
FailSafe® Giga and FailSafe® Tera are available for all size risks that require their higher limits or specialized coverages.A broad range of operations are eligible for all FailSafe® products; however, some things just don’t fit.From a liability perspective, we are not a market for technology risks that present catastrophic Bodily Injury, Property Damage or Economic Damage exposures. Like companies that develop products for aircraft navigation or work with trading floor systems for stock exchanges.To apply for FailSafe® Mega coverage, just request Technology E&O coverage from the Optional Coverages selection in ICON. The required underwriting questions will be included when you request issuance. No other application is required. A premium indication on the FailSafe® Mega Technology E&O is available as part of the quote process in ICON; however, coverage cannot be bound without prior underwriter approval.