Select Accounts and Global Technology have a close working relationship to provide competitive products and services for Select’s technology customers. With Select’s
Master PacSM product and coverage offerings combined with Global Technology’s CyberFirst® E&O Liability product, coverage may be specifically tailored for today’s high tech companies.
Select Accounts recently reviewed Master Pac business with an associated Technology CyberFirst E&O policy to determine the proper eligibility to maximize Select Accounts Technology E&O writings.
As a result of the review, it has been determined that the best opportunity to write CyberFirst E&O coverage for Select business is when the account has at least $500,000 in sales.
This eligibility ensures the most viable business opportunities are presented to our Global Technology associates for quoting.
Therefore, effective immediately; Select has changed the New Business Technology Errors & Omissions referral eligibility requirements. To be eligible for CyberFirst E&O coverage, an account must:
Have a corresponding Master Pac policy
Have sales greater than or equal to $500,000
Complete the appropriate CyberFirst E&O supplement applications
Present additional underwriting information necessary for Global Technology to quote CyberFirst E&O (e.g. financial statements)
In order to renew a CyberFirst E&O policy a corresponding Master Pac policy must be in force. Those accounts where the Master Pac renewal has revenue less than $500,000 will be grandfathered.
Our current process to obtain a CyberFirst E&O quote has not changed.
If you sales are below $500K per year, you can still be eligible for coverage through Hartford Insurance Company. Get technology insurance quote here