It’s also what most traditional insurance brokers get wrong
Most insurance programs are poorly constructed and typically don’t accurately transfer risk off of the balance sheet. Some of the common mistakes we see are:
01.
Exclusions
Exclusions remove coverage for risks that you’re concerned about and should be covered. There are common exclusions we negotiate out of almost every policy we place.
02.
Policies & Limits
Policies and limits that are needed are missing and you’re paying for policies or limits that aren’t necessary.
03.
Conditions
Conditions to coverage often exist that cause claims to be denied. These can include requirements to meet minimum cyber security standards, install the most recent security updates, and notify the carrier if you fail to meet the security levels disclosed in the application.
- General Liability
- Errors & Omissions
- Cyber Liability
- Employment Practices Liability (First Party)
Company
Early Stage
During the early stages of your business, it’s most important to minimize the need for insurance products and to reduce risk through risk management and contractual risk transfer. Your money is better spent on product development, marketing, and people than on insurance.
- General Liability
- Errors & Omissions
- Cyber Liability
- Media Liability
- Directors & Officers
- Property
- Auto Liability
- Workers' Compensation
- Group Health Insurance
- Group Vision, Disability, & Life Insurance
- Key Man Life & Disability Insurance
Company
Middle Market
Once you’ve built a sustainable business, you’ll want to invest in the insurance products to protect your recurring revenue stream and reputation.
- Commercial Crime
- Employment Practices Liability (first and third party)
- Umbrella Liability
- Fiduciary Liability
- Increase Limits of Errors & Omissions & Cyber Liability
Company
Ready to Exit
As you prepare to sell your business or take it public, you’ll want to protect your business from as many unexpected catastrophes as possible.
(RWI)
Representations
& Warranties
Insurance
RWI is an insurance policy that provides coverage for unintentional breaches of reps & warranties made in an acquisition, merger, or other similar agreement.
Most of the time, the seller will propose the use of RWI but 90% of the time, the policy holder is the buyer. Policy premiums can range between 2% and 4% of the policy limit and typically last for up to 6 years.
95%
of businesses have the wrong coverage for their unique risk profile
<15mins
the amount of time we ask of a founder, CEO, or CFO during our proprietary technology risk assessment
18%
the average amount of money saved
Outsource
your risk
management.
Allow us to take risk management and insurance off of your plate so you can focus on revenue generating activities.
We can review your contracts, help you build cyber security policies, manage your insurance program, and handle many other risk management functions.