2 September 2015 Building Scalable Insurance Programs For Each Growth Stage of a Entrepreneurial Company.

2 September 2015

Building Scalable Insurance Programs For Each Growth Stage of a Entrepreneurial Company

Basic Types of Business Insurance

Basic Types of Business Insurance

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• Property and Casualty

• Life Insurance / Key Person

• Employee Benefits (Health and Disability)

Key Functions of Business Insurance

Key Functions of Business Insurance

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Claims• Protect balance sheet

• Protect personal assets of Directors and Officers

Compliance• Statutory

• Workers Compensation

• Auto Liability

Currency to do business• Building and Equipment Leases / Debt and Loan Covenants

• Customer Contracts

• Ability to attract outside directors to sit on the board

Risk Exposures Facing Technology

Companies

Risk Exposures Facing Technology

Companies

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Property - EDP Equipment, Networks and Data

• Fire, vandalism, theft, earthquake, flood, etc.

Product Liability and Errors & Omissions

• “Failure to Perform” resulting in a financial loss to customers

Cyber Risk - First Party and Third Party

• Network Security – unauthorized access, transmission of virus of malicious code, theft/destruction of data, cyber extortion, business interruption

• Privacy – PII/PHI data exposed by hacker, lost device, rogue employee, physical records

• Media – Advertising & Personal Injury, infringement of Intellectual Property

Intellectual Property

• Infringement of copyright, trademark, trade dress, patent

International

Key Person / Human Capital

Building Scalable Insurance Programs

Building Scalable Insurance Programs

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Scalability - Key Questions

When should a technology company secure Tech Errors & Omissions (E&O) and Cyber Risk insurance?

What about the timing of purchasing Directors & Officers (D&O) insurance and what are the key things to look for?

International Insurance - what does my company need to know about complying with local country insurance statutes?

When should I consider the following insurance products?• Employment Practices Liability (EPL)

• Kidnap & Ransom (K&R)

• Business Travel and Accident (BTA)

• Representations and Warranties

• Intellectual Property and Patent

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Diversified Insurance GroupContact Information

Spence Hoole, ARM, CICPresident / CEODiversified Insurance GroupTel: [email protected]

Kevin HyerAccount ExecutiveDiversified Insurance GroupTel: [email protected]

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