Sourcing cyber liability risk is difficult for clients in nearly every line of business, but for producers working in the tech space, the challenge is even steeper. To answer the call for coverage in that tricky sector, online placement platform Insurance Noodle is launching a new, blended package solution.
Centered around cyber liability coverage, the package can be integrated into Business Owner’s Policies (BOPs), general liability and professional liability policies. The commercial insurance package can be purchased as a bundle, or separately by coverage.
Target classes include programmers, web developers, software designers, mobile app developers, IT consultants, IT staffing firms and other technology professions.
Insurance Noodle CEO attributed the group’s decision to launch the package to continually evolving risk in the tech space.
“Insurance coverage tailored to the technology sector is increasingly important as risks evolve at warp speed,” Devine said. “Insurance Noodle now offers small IT businesses total protection, including Errors and Omissions, Cyber Liability and Intellectual Property policies.”
Devine characterized the products as “invaluable” to agents working with IT professionals.
Indeed, because many in the tech industry work as freelancers or contractors, appropriately insured IT professionals are pretty thin on the ground. In fact, given a healthy array of product choices and an untapped market, the tech sector may present a lucrative new market for producers.
For producers interested in the new Insurance Noodle product, the company notes that solutions are delivered through Insurance Noodle’s proprietary quoting platform. The platform delivers multiple quotes to agents through a single application.
