You have questions? We have answers! 1. Why do I need to buy insurance? 2. Why do I need Professional Liability insurance? 3. How much liability insurance should I buy? 4. What does general liability insurance cover? 5. What is a "claims-made" liability coverage? 6. What are Hired and Non-owned auto coverages? 7. What are some of the IT consultants that should have Errors and Omissions Coverage? 1. Why do I need to buy insurance? In some cases insurance coverages are required by law or by lending institutions. In other cases, they are required by your client's contractual agreement. Back to the Top G 2. Why do I need Professional Liability insurance? General liability insurance provides coverage for bodily injury and damage to tangible property and always excludes coverage for professional liability. Due to the growing frequency of litigation and court awards, IT professionals are being held more accountable for their mistakes than ever before. It is wise to purchase this coverage. Back to the Top G 3. How much liability insurance should I buy? This is a very difficult question to answer. A $1,000,000 limit should be the minimum amount of insurance purchased. Some of your clients may require minimum limits of $1,000,000 in general liability and $1,000,000 in professional liability coverage. An umbrella liablity policy is recommended for higher liability limits. Back to the Top G 4. What does general liability insurance cover? This coverage protects your IT business against bodily injury or property damage claims that occur on your premises or at your customer's location. Back to the Top G 5. What is a "claims-made" liability coverage? It is a form of insurance that provides coverage only for work you produced during the policy period. And, only those claims which are first made against you and are reported to the insurance company during the policy period will be covered under the policy. Back to the Top G 6. What are Hired and Non-owned auto coverages? Hired auto coverage protects your business if you or one of your employees rents a vehicle in the company name and an accident occurs. Non-owned coverage protects the company if one of your employees has an accident in his or her own vehicle while on company business. This coverage is fairly inexpensive to buy. Back to the Top G 7. What are some of the IT consultants that should have Errors and Omissions Coverage? AS 400 Programmers, Internet Access Providers, CAD, CAM and CAES, Intranet Developers, Cobol Programmers, Network Security Consultants, Computer Consultants, Packaged Software Development, Communications Consultants, System Analysts, Software Training/Education, Custom Software Specialists, Data Processing Services System Integration & Network Consultants, EDP/Software Developers, Virtual Reality Systems, Hardware/Software Mfg./ Sales / Service and Installation, Web Site Development, Operation and Maintenance, Information Retrieval, YEAR 2000 Consultants and others. Back to the Top G Vellucci Insurance Agency, Inc.  657 Cambridge St. Cambridge MA 02141 E-mail: info@InsureiTech.com   Toll Free: 1-888-240-2277    Fax:  (617) 492-0139