Information Technology

The InfoTech Services Industry (IT) comprises several areas of managing technology and its processes.  Typically, we think of computer programming but it also includes software and computer consulting services, computer hardware in support of those functions, programming languages and data, data, data.  In essence, it includes anything that renders data or information in an electronic distribution format.

There are four core services:  business process automation, providing information, connectivity with customers and applications/tools.
These companies’ activities may involve integration of computer software, hardware, and communication technology; writing, modifying, testing, supporting software; and other professional and technical computer-related services. Additionally, IT consulting is an integral part of computer-system design services, which requires integrated applications and systems. Companies providing data-based processing and outsourcing services, such as data entry and transformation, hosting and provisioning of web and application services, data processing infrastructure for back-office functions, and business process management, are also a part of the IT services industry.
And today, more and more companies are eager to streamline data storage and processing expenses, which is driving an increase in cloud computing services.

Our Focus​


We serve a very broad segment of the IT industry, including companies of any size and function supporting commercial and government customers. These functions include but are not limited to:
Software developers – packaged and custom
System integrators
Software and/or computer consultants
IT Staffing
Internet Services Providers (ISPs)
Application Service Providers (ASPs)
Web site design companies
Computer processing companies
Data processing/Data archiving
Computer maintenance
Computer time share
Computer facilities management
Network Security companies
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Issues and Risk Exposures


IT companies face significant risk, especially technology errors or omissions.  While the technology may be infallible, sometimes things just go wrong. Perhaps during the implementation of a technology product or service a mistake occurs that might lead to financial harm of its customers.  A commercial general liability policy does not generally respond to this financial loss. Another growing area of concern for IT Companies relates to Data Privacy(network security).

​Virasat Advantages​


We have decades of experience providing coverage to InfoTech companies.
We offer an exceptional suite of broad Professional Liability Coverages, including Technology Errors or Omissions, Data Privacy, and Communications Liability.
Admitted E&O coverage
E&O Plus for larger customers
E&O standard for the more price-sensitive customers
Data Privacy Liability including data breach coverage
Communications Liability coverage
Property and Casualty
Our @vantage general liability and auto coverages extend to additional insureds by contract
Property form that is “built” to specific needs
Property Protection - @vantage Property Offerings:
Up to $1,000,000 bucket limit (per occurrence)
Debris removal: up to $250,000 per¬ occurrence limit
Property off premises
Property in transit
Worldwide contingent business income and Business Personal Property at Other Locations
Newly acquired property
Building: $1 million; 180 days notice
Business Personal property: $1 million, 180 days notice
Business Income and Extra Expense
International
We provide a customized, global offering by extending our domestic policies to cover foreign exposure.
In addition to our tailored coverages, our solutions include services through:
Risk Control Service professionals who understand your business and can suggest opportunities to address exposures to improve your business results.
Dedicated Claims professionals experienced in resolving complex claims involving all lines of coverage. Visit our claims page for details on filing a claim or to report a claim now.
Solutions delivered in partnership with Technology-focused producers.
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Success Story


Operations: An insured offers a portfolio of information services and products for businesses, schools and government agencies to receive precise, live weather conditions, visualization and early warnings.  Its estimated revenues are over $50 million.
Hot buttons that led to success: We successfully won this account due to our ability to offer Technology Errors or Omissions Plus coverage, Unauthorized Access, Data Privacy Protection and Communication Liability.  Our enterprise-wide language played a key part in setting our E&O form apart from the competition in combination with the pure claims made coverage.  (Note: the competition offered claims-made and reported.)  Our partner agent was well engaged and definitely understood the benefits of our coverage differences.
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Checklist Questions

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Those involved in this industry should be aware of these major concerns facing information technology services today:
What is the end use of the product or service?
Are products used or sold overseas?
Is an international master program needed?
Do employees service clients in-house or on customer site?
Who uses the product or service?
What is the worst case scenario if the product/service fails?
Tech E&O/Privacy/Communications Liability - retroactive dates utilized on existing program?
Do you collect data that might include corporate confidential information or personally identifiable information?
Do you outsource to any third-party who might be responsible for “your” data or the data of others?