AST Software, a software development firm, developed an ERP system that would manage the day to day business activities such as accounting procurement, inventory control and a number of other activites required by a large manufacturing firm.
AST Software became aware of an error that had been made by their system engineers causing the improper counting of inventory. AST Software became aware of a potential lawsuit that was to be brought by the manufacturing company and contacted their insurance agent who notified AST’s insurance company of the large potential claim.
The insurance company’s errors & omission policy form provided pre-claim assistance and services before the actual claim was filed and mitigated the situation. Services included attorneys and claim specialists without the cost of a deductible and without reducing the policy limits. A large claim was averted.
WOULD YOUR INSURANCE COMPANY COVER THIS TYPE OF CLAIM?
Our agency has many fine companies that would. We specialize in solving insurance problems for the IT market. Give us an opportunity to solve yours. Email or call Mark Silliman, the #1 tech insurance problem solver at firstname.lastname@example.org or 678-822-0154.