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Travelers Insurance: Insuring Technology Companies

Travelers Insurance Company has joined the ranks of other major carriers such as The Hartford in writing coverage for technology companies. Travelers Global Technology President Ronda Wescott and Chief Underwriting Officer Mike Thoma provide their perspective:

If you have a Life Science or Software and Information Technology Company and would like a review of your current insurance portfolio, feel free to contact me anytime. I can help market your coverage’s with all the major carriers specializing in this sector.

Some of the most common insurance coverage’s important to the Life Science or Software and Information Technology industry are:

  • Property
  • Commercial General Liability
  • Professional Liability (Errors & Omissions)
  • Workers’ Compensation
  • Commercial Automobile
  • Commercial Umbrella/ Excess Liability
  • Cyber Liability & First Party Data Privacy Expense
  • Directors and Officers Liability (D&O)
  • Employment Practices Liability
  • Fiduciary Liability
  • Crime
  • Kidnap and Ransom
  • Group Medical Insurance
  • Group Life and Disability


Thai Life Insurance Commercial

I’ve been playing around with Google+ a little bit and one feature I have come to like is the “Sparks” link which basically brings you stories on the things you love from all across the Web. Using the keyword “insurance,” I found this heavy hitting Thai Life Insurance Commercial which really doesn’t hold anything back when striking at your emotions.

You don’t see commercials like this running in the U.S. on Sunday afternoon during a PGA tournament! However, it’s powerful. Do you have life insurance?

Here’s a great resource to start if you’re considering buying life insurance.


Six Reasons Why You DON’T Need Life Insurance

  1. You are never going to die
  2. You are going to inherit a fortune
  3. You are going to win the lottery
  4. Your children are going to support you
  5. You are never going to retire
  6. The government will take care of you

People, don’t take these literally. Needless to say, this is a joke so don’t take it as literal advice!

I wish I could give a shout out to the person who was creative enough to come up with these, but I got them from a handout at a networking event from another insurance agent.

If you have been procrastinating and need a good resource to start researching the costs of a life insurance policy, here’s a good start:

Or, contact your insurance agent to discuss.


Why Buy Life Insurance?

A: Although not the only answer, life insurance is a good business succession plan

Would your business suffer if they lost a key person?

If you are a business owner, would you like to be in business with your partner’s spouse?

These are two questions that most often lead to the purchase of life insurance by a business. Replacing the value of a key team member can literally spell the difference between survival and demise of a business. This reinforces the need for Key Person Life Insurance.

Not only do most business people not want to be in business with their partner’s spouse, but the spouse doesn’t want to be in business. To provide dignity in a time of pain, and to allow the business to go on without controversy over who gets what and who is in charge – these are the reasons for a Buy/Sell Agreement funded with life insurance.

Do you have a life insurance insurance policy as a business succession plan? If not, here’s a good resource to start:

Or, call your agent to discuss.


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