Software Application Insurance

Software Application Insurance

In business, protection and security of digital property is imperative. You cannot afford to be at risk of breaches or theft of confidential data and other assets. You need to be prepared to tackle any such threats which could risk your business credibility. We have the tools and experience to offer our customers the security and coverage they need to avoid liability claims and damage to digital property

Several businesses can benefit greatly from a software application insurance policy. Basically, our target classes of business are healthcare, private schools, non-profit organizations, professional services, insurance agencies and many others.

The policy offered is highly flexible and involves both first and third party coverage for several of these business classes.

First Party Coverage

  • Loss of Digital Assets- in case the insured suffers from a loss or damage to their computer programs or corruption of all electronic data.
  • Security Event and the Costs- this involves notification of customers and clients, penalties and regulatory fines, as well as managing public relations expenses.
  • Non-Physical Business Interruption and any extra expenses- if the insured’s computer system is undergoing restoration, this covers the income reimbursement during that time.
  • Cyber threats and extortion- when there is a serious threat to the insured’s computer system and network, this makes sure that they are reimbursed for that extortion.
  • Cyber Terrorism-this reimburses the insured for loss of income, interruption of services and any other additional expenses which are incurred by a failure of system due to cyber terrorism. The insured is liable to claim these in case their network or computer system breaks down as a direct result of cyber terrorism.

Third Party Coverage

  • Security of Network and Privacy liability-this involves legal claims and liability in case of a security or privacy breach. Lapses in privacy and security protection are covered here, particularly those which demand legal action. The insured is protected if held responsible for alleged violation of any privacy regulation or HIPAA law.
  • Employee Privacy Liability- this provides coverage from legal liability in case of a breach an employee or employees’ privacy.
  • Electronic Media Liability-the coverage offers protection from claims which arise from defamation, invasion of individual privacy, plagiarism, infringement of copyright and domain name.

The risk management services provided aim to ensure that your system and network is protected at all times. You will be guided extensively on the steps to take, tools to use and technical defenses needed to keep your data safe and confidential. The legal expertise and response team is also available in case there is a claim scenario involving theft, error or breach of privacy. As a business owner, you will be able to tend to your operations without any worry or hassle of dealing with external risks.

Our company provides you with software application insurance that safeguards you against fraudulent internet practices and security breaches. Nowadays, it is easier to fall prey to cyber-crimes and as a business owner, you need to be able to protect yourself from liability claims. Advanced Taxi Brokerage offers the management solution that every business owner requires to run their operation efficiently.

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