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Technology
The needs of emerging growth companies, whether in technology or life science, are unique and constantly evolving. Finding a partner that understands your company and your technology is critical in insuring the best risk management strategy and implementation. SGB’s Technology and Life Science Risk Management Practice is focused on helping technology and life science companies of all sizes and stages identify and manage the risks uniquely inherent in their respective industries. We work with all of the major insurance carriers that specialize in technology risk, including but not limited to Chubb, The Hartford, St. Paul Travelers, One Beacon, CNA, MedMarq Noetic, etc. We also recognize that while insurance is an important part of the equation, other risk management services are critical in helping entrepreneurs remain focused on their enterprise. Whether the need is claims management, loss prevention and safety consulting, or HR and benefits administration, SGB provides our clients the necessary resources to develop and implement their own successful risk management strategies.
Professional Liability is an area where specialization and industry focus are required in order to insure optimal coverage. Today’s corporate directors and officers face increasing scrutiny from the SEC and other regulatory bodies as well as an aggressive litigation environment, and SGB has access to every professional liability market available in order to help companies obtain the most comprehensive D&O coverage available while at the same time controlling costs. Businesses also face potential claims stemming from employment practices – sexual harrassment, discrimination, hiring policies, wrongful termination, etc. – and any of these claims can be disruptive to a company. We invest the necessary time in understanding a company in order to structure coverage that will help mitigate the exposure and work with management teams to help them develop a work environment less susceptible to claims.
Our technology clients represent a wide variety of sectors including software, internet commerce, communications, storage area network/enterprise computing, and semiconductors. Our life science clients are focused on developing innovative medical solutions and therapies through medical device and pharmaceutical applications. These industries in particular have unique and dynamic liability exposures, so helping carriers understand the risk is of paramount importance.
Specialized Coverages Include:
- In addition to offering general business insurance (workers compensation, property and casualty, group benefits, etc.), our Technology Risk Division offers specialized risk management and insurance products such as:
- Intellectual Property Infringement Defense - Provides defense reimbursement for IP infringement disputes.
- Intellectual Property Infringement Abatement - Reimburses legal costs stemming from patent enforcement actions.
- Directors and Officers Liability - Coverage to partially indemnify board members and executives from claims of professional liability
- Employment Practices Liability - Coverage protects against employment related claims such as wrongful termination, breach of contract, sexual harrassment, various forms of discrimination, etc.
- Errors and Omissions Liability - Coverage protects against claims of professional malpractice tailored to specific industry (consulting, engineering, design, etc.).
- Foreign and Transit Coverage - Custom tailored insurance products designed to protect foreign and domestic employees and property domiciled or while in transit outside the U.S. Coverages offered also address specific risks such as Kidnap and Ransom, Medical Repatriation (illness/injury), Terrorism, etc.
- Risk Management Consulting - SGB offers ongoing risk management consulting services aimed at helping entrepreneurs identify and mitigate risk in virtually all areas of the enterprise - employee safety, floss prevention, foreign operations, product liability, premises security, emergency action plans for catastrophes, and contingency planning are just a few of the services our clients benefit from.
For More Information:
Please contact us at technology@sgbinsurance.com so that we may help you structure a sound risk management plan that will provide you with quality, economy and peace of mind year after year.
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