Basic Form for Technology Firms

Nuts & Bolts: TechVantage, Victor O. Schinnerer’s E&O program for technology professionals, has a new policy form that provides basic coverage to smaller firms at a lower premium and deductible. The TechVantage Basic Form is a claims-made policy that covers the errors and omissions of all the employees of a firm, any joint ventures and the firm’s newly-acquired subsidiaries. The Basic Form is intended for smaller technology companies who do not employ independent contractors or do not design software. Schinnerer will continue to offer the TechVantage Broad Form policy which includes the E&O coverage of the basic form plus coverage for copyright infringement, punitive damages and independent contractors. TechVantage is written on a non-admitted basis.

Dollars: Min. premium $1,500 – Basic Form; Min. deductible – $1,000 – Basic Form; Max. Limit – $5 Million.

Carrier: Indian Harbor, an A.M. Best “A+” rated company.

States Available: Available in all states except Arkansas, Colorado, North Dakota and New Hampshire.

Contact: Mark S. Wolf, (301) -96-1-9867, Mark.S.Wolf@schinnerer.com