Euclid Managers Introduces a Revolutionary Approach for Insuring Internet and Tech Exposures: Keep it Simple

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Euclid Managers, LLC, an underwriting manager and claim administrator for internet, tech, media, manufacturing and miscellaneous professional liability, is now offering more coverage to Internet and Tech companies and delivering the coverage via a newly-simplified approach.

Euclid Managers, LLC, an underwriting manager and claim administrator for internet, tech, media, manufacturing and miscellaneous professional liability, is now offering more coverage to Internet and Tech companies and delivering the coverage via a newly-simplified approach.

The newly-simplified coverage approach aggregates a collection of first-party and third-party liability coverages into one easy-to-read policy form. There are no modules; it’s just one policy form. While there is flexibility to add endorsements, with so many of the coverages Internet and Tech companies buy already built into the form, there is little need to endorse the policy. The first-party coverages are delineated separately from the third-party liability protection and the entire policy is drafted with sensitivity towards avoiding insuring agreement confusion.

The expanded coverage offerings include business interruption, privacy notification expenses, crisis management expenses and content restoration expenses. Expanded coverage features include commercial confidential information, trusted party (vendor), employee personally identifiable information and more. The errors & omissions (E&O), personal injury, privacy, intellectual property and security protections previously available under Euclid’s Internet and Tech forms are also still included.

“While, we are not the first in the market to offer some of the first-party coverages," says Laura Johnson, vice president and product development manager, “our timing gave us the opportunity to analyze the marketplace to determine what coverages Internet and Tech companies are actually buying. We selected the coverages we think matter most and drafted them in a way we believe is simple and straightforward, so our clients know what they are buying.”

Euclid has not changed its class-driven approach. Internet and Tech companies continue to have their own applications and policy forms. The new ClickStream 2.0 is for Internet companies and the new HyperDrive 2.0 is for Tech companies. Companies must have minimum revenues of $100,000 to be eligible for these products. Coverage for both HyperDrive 2.0 and ClickStream 2.0 is provided by A.M. Best-rated A (Excellent) XV, Hudson Insurance Company on an admitted basis in NJ and NY and on Hudson Specialty Insurance Company on a non-admitted basis in all other states. For more information, contact: Marcia Sutton, 816.778.0713 or e-mail msutton@euclidmanagerskc.com.

The Kansas City-based Euclid Managers, LLC is an underwriting manager and claims administrator specializing in internet, tech, media manufacturing and MPL coverages. It is part of Euclid Insurance Services, Inc., a full-service agency, managing general agent and underwriting manager and claims administrator with annual revenues in excess of $20 million.

Media contact:
Marcia Sutton
EUCLID MANAGERS LLC
(816) 778-0713
msutton(at)euclidmanagerskc(dot)com

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