The Hartford Broadens Professional Liability Offerings For Technology Companies

The Hartford Broadens Professional Liability Offerings For Technology Companies

HARTFORD, Conn.--(BUSINESS WIRE)-- The Hartford has enhanced its FailSafe® suite of professional liability offerings to address the evolving needs of technology companies with expanded coverage for data, systems and networks.

"Professional liability is one of the most significant risks for technology companies today," said Joe Coray, vice president of The Hartford's Technology & Life Science Practice. "An alleged failure of a product or service that causes economic loss to a client's business can result in a costly lawsuit and reputational damage."

According to The Hartford's data, professional liability claims against technology companies average more than $200,000.1 Most of these claims include allegations of breach of contract, failure to perform or negligence, and can often also involve issues of liability for loss or corruption of client data.

The Hartford's FailSafe product suite offers professional liability coverage for technology companies of all sizes. Available enhancements to The Hartford's FailSafe suite include:

  • Broader coverage for data loss, security and damage caused by rogue employees;
  • Extended liability coverage for a technology company's activities on its own computer system and networks; and
  • 'Claims made' policy forms that ease reporting requirements.

The Hartford has also launched HFP ProntoSM for FailSafe, an agent portal that offers a streamlined submission process, online collaboration capabilities for agents, customers and underwriters, as well as risk management and insurance shopping resources.

"Pronto for FailSafe is the latest example of The Hartford's commitment to our agents and technology customers," said Coray. "We continue to invest in technology solutions to make it easier for agents to help our customers obtain professional liability coverage that truly addresses their evolving business needs."

To learn more about The Hartford's specialized offerings and resources for technology companies or to locate an agent, visit Agents can access HFP Pronto for FailSafe via The Hartford's Electronic Business Center.

About The Hartford

With more than 200 years of expertise, The Hartford (NYS: HIG) is a leader in property and casualty insurance, group benefits and mutual funds. The company is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at Join us on Facebook at Follow us on Twitter at


Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2012 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.

The coverage discussion herein is a summary. Coverage is provided by the member companies of The Hartford Financial Services Group, Inc. and may not be available to all insureds in all states. For a complete description of coverage terms, conditions and exclusions, refer to the insurance policy. In the event of a conflict, the terms, conditions and exclusions of the policy purchased prevail. Information provided herein based on data as of July 2013 and is subject to change.

1 Average cost for claims with incurred defense and indemnity costs above a policy's retention.

The Hartford
Pamela Rekow, 860-547-8990

KEYWORDS:   United States  North America  Connecticut


The article The Hartford Broadens Professional Liability Offerings For Technology Companies originally appeared on

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story