AFER Group Ltd. has developed an expertise for consultants and service providers related to information technology, multimedia, telecommunications and the creation of software or software packages.
We cover a wide range of technology companies (IT) and multimedia professionals. IT and multimedia companies face a constant variety of risks. As the world of technology and multimedia grows, a new legal landscape emerges.
Insurance policies to cover IT and multimedia risks were written at a time when it was difficult to predict its evolution, so the products currently on the market may not respond adequately to the specific needs of the IT and multimedia domain. That is why, at AFER Group Ltd., you can buy special coverage that will insure you properly.
We found solutions to some imperfections in some pre-existing insurance products, for example:
- Software can be considered as much a product as a service. Our warranties against product risk and against errors and omissions have been tailored to avoid any flaws.
- Business interruption coverage takes into consideration the risks associated with a delay in completion of a project, delay in payments or losses related to interruption of research and development projects. Traditional insurance policies may not cover these.
- We do not include definitions of “technology and multimedia services” that normally appear in insurance policies so that the extent of coverage is not significantly limited. We prefer to leave the company that we serve to define for itself the activities that are most important to them.
The majority of the claims for errors and omissions made against the specialized IT firms are related to the termination of contracts, hence the importance of such coverage being clearly and unambiguously expressed.
- Several insurance policies do cover the termination of a contract but contain an exclusion or conditions relating to contractual liability.
- We can provide an explicit guarantee covering the termination of a contract with a customer.
- We can provide insurance policies that do not contain any exclusion or condition of contractual liability.
We understand that IT and multimedia companies are looking for a simple and effective way to purchase comprehensive insurance. That is why they will appreciate the service that AFER Group Ltd. is able to offer them.
Whether you are a start-up or an established company, AFER Group Ltd. will provide you with the program and the risk management you require:
- Property insurance and loss of income
- Legal insurance
- Equipment breakdown and your production machinery
- CyberRisk and protection of your data by a computer attack
- Kidnapping, ransom, and extortion
- Personal injury
- Damage attributable to advertising
- Product Recall
- Global General Liability
- Full media responsibility, including coverage for user-generated content
- Product liability / completed work
- Tenants legal liability
- Violation of intellectual property rights
- Defamation, defamatory writing, and slander
- Breach of contract
- Cyber responsibility and responsibility for confidentiality
- Privacy notification fee
- Liability of directors and officers
- Liability for errors and omissions
- Responsibility in hiring practices
- Land, air and sea transportation