Experts predict that by 2020, at least 30 percent of companies globally will use artificial intelligence (AI) in at least one fragment of their sales process. This technology is expected to increase the global GDP by $15.7 trillion by 2030, demonstrating a 14 percent increase, making it the biggest commercial opportunity in today’s economy.
Tech companies utilizing AI to identify patterns and predict outcomes are vulnerable to added liability exposures as responsibility shifts from human to machine and manufacturer. It is crucial that companies are protected from the risks they face in this quickly changing marketplace.
Technology Errors and Omission (E&O) Coverage from Burns & Wilcox can provide your clients with financial protection when held liable for errors, omissions or negligence in relation to their work involving hardware, software, the web and IT services.
Coverage Details and Features
- Liability limits as high as needed
- Coverage is broadly defined for technology services with flexibility to include additional professions and services
- Coverage can be packaged with full cyber and privacy liability insuring agreements
- Optional first-party coverage for insured’s expenses to recover from unauthorized access
- Supplemental payments in addition to the limit for breach mitigation costs
- Combined E&O and General Liability form available
- Contingent Bodily Injury and Property Damage Coverage available in certain areas
- Coverage offered on a pay-on-behalf basis with insured having duty to defend
- Coverage includes an incident trigger to result in claim when reported in accordance with the discovery position
(including but not limited to)
- Hardware and software services
- Information technology staffing and consulting
- Value added re-sellers of software and hardware
- Web services, website design, internet service providers
- App developers
- Software developers
- Computer engineers
- Computer consultants
Ask an Expert
At Burns & Wilcox our expertise becomes your expertise. Our marketing materials are designed to help you give your clients what they want to hear – yes to almost any hard-to-place-risk.
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