March 2016

Building Scalable Insurance Programsfor each Growth Stage of an Entrepreneurial Company

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Basic Types of Business Insurance

Property and Casualty

Life Insurance / Key Person

Employee Benefits (Health and Disability)

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Key Functions of Business Insurance Claims

Protect balance sheetProtect personal assets of Directors and Officers

ComplianceStatutoryWorkers CompensationAuto Liability

Currency to do businessBuilding and Equipment Leases / Debt and Loan CovenantsCustomer ContractsAbility to attract outside directors to sit on the board

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Risk Exposures Facing Technology Companies

Property - EDP Equipment, Networks and DataFire, vandalism, theft, earthquake, flood, etc.

Product Liability and Errors & Omissions“Failure to Perform” resulting in a financial loss to customers

Cyber Risk - First Party and Third PartyNetwork Security – unauthorized access, transmission of virus of malicious code, theft/destruction of data, cyber extortion, business interruption

Privacy – PII/PHI data exposed by hacker, lost device, rogue employee, physical records

Media – Advertising & Personal Injury, infringement of Intellectual Property

Intellectual PropertyInfringement of copyright, trademark, trade dress, patent

International

Key Person / Human Capital

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Building Scalable Insurance Programs

When should a technology company secure Tech Errors & Omissions (E&O) and Cyber Risk insurance?

What about the timing of purchasing Directors & Officers (D&O) insurance and what are the key things to look for?

International Insurance - what does my company need to know about complying with local country insurance statutes?

When should I consider the following insurance products?Employment Practices Liability (EPL)Kidnap & Ransom (K&R)Business Travel and Accident (BTA) Representations and Warranties Intellectual Property and Patent

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Coverage Summary for Seed Stage Emerging Growth Company:Pre-revenue - $5 Million

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Coverage Summary for Early Stage Emerging Growth Company:Revenues of $5 - $25+ Million

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Coverage Summary for Mid to Later Stage Company:Revenues of $25 - $250 Million

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Diversified Insurance GroupContact Information

Spence Hoole, ARM, CICPresident / CEODiversified Insurance GroupTel: 801.325.5050diversifiedinsurance.comshoole@digrisk.com