You may also be interested in
Hardware Manufacturers Liability
Victor’s Hardware Manufacturers liability insurance provides comprehensive coverage to companies and their employees with protection against allegations of wrongful acts, as well as a broad range of cyber risks. Commercial General Liability (CGL) insurance is also available on a monoline basis to insure exposures arising from bodily injury, property damage, personal injury and advertising injury, and product recall expense.
Eligibility
Coverage is available for Canadian-based companies that manufacture, design, assemble, distribute, maintain and service the following:
Computer and Electronics Products
- Computers, including peripherals and storage devices
- Office equipment and machinery
- Electronic and semi-conductor components
- Photonics
- Other electronic products that are programmed and/or controlled by electronic circuitry
Communications Products
- Radio and television broadcasting equipment
- Telephone and telegraph apparatus
- Communication subassemblies
- Acoustic, optical, fibre optical equipment
- Lasers and related equipment
Electronic Machinery and Equipment
- Teaching equipment
- Point of sale terminals
- Electronic industrial equipment and machinery
Electronic Instruments
- Industrial instruments for measurement, display and control
- Scientific and laboratory analytical, test and measurement devices
- Optical instruments and lenses
- Watches, clocks and operational devices and parts
Services
- Computer installation, maintenance and repair
- Distributors of electronic products and components
Please note: The availability of coverage for some of these classes will be governed by acceptability of individual risks based on the end-use of the applicant’s products.
Coverage Details
- Policy Form –
- E&O: claims-made and reported, including first and third party cyber risk protection
- CGL: occurrence
- Policy Period – Annual policies and multi-year policies
- Territory – Services rendered worldwide
Policy Features
E&O Insurance (Claims-made Form)
- First party loss and third party liability coverage
- Cyber breach coach for first party loss
- Intellectual property infringement coverage (including copyright, trademark, service mark, trade name and trade dress, but excluding patent infringement and trade secret)
- Network and Security breach, Privacy breach and Data Personal Injury coverage
- Duty to defend
- Coverage for liability against damages resulting from criminal acts committed by a rogue employee
- Coverage for claims made against the Insured by their employees in the event of a Privacy breach
- Coverage for delay in the performance of a contract or agreement resulting from a wrongful act
CGL Insurance (Occurrence Form)
- Basic limit of $25,000 per recall/aggregate limit for product recall expense coverage (options for increased limits and product recall expense with loss of profits as additional premiums)
Additional Coverages Available
- Employment practices wrongful act liability coverage endorsement available for firms with less than 50 employees
Submission Requirements
- A completed Victor Information Technology Insurance application form
- For renewals: Information Technology Insurance renewal application form
- Attachments as indicated on the application form