Cyber liability is a huge area of exposure for most startups. Even if you’re not a “tech” startup per se, most tech companies today tend to leverage 3rd party tech products in ways that can leave them exposed.
The Space There’s a new breed of technology-enabled B2C services startups and we deal with a ton of them at Founder Shield. Think Uber, GetMaid, Makespace…all of these companies use custom platforms to access traditional service providers in very non-traditional ways. This creates exposure to a wide variety of liability. Here’s a quick look:
The Question The biggest question we deal with on a daily basis: how much does insurance for startups cost? All of our clients want to know exactly what they’ll have to spend and how long it will take. They all expect an immediate answer, and can you blame them? The startup world moves at a … Read More
With the recent launch of fresh government programs under the Affordable Care Act, the landscape is changing massively in the health insurance space. We can’t help but think about what effects the new healthcare laws will have on startups.
The New CA Breach Notification Law If you’re a tech startup, your duties to protect your users’ personal information just got a bit more onerous. Last Friday (Sept 27th), Governor Jerry Brown signed a bill into law that expands the security/data breach notification requirements beyond their current spectrum.
We track down Tech Errors and Omissions policies for the majority of the companies we work with. It’s extremely important coverage for anyone leveraging technology or social media, which most startups constantly do. Even using things as simple as AWS or Facebook login can expose your company to a lawsuit, and in a fast-paced, … Read More
The Space The Enterprise/SaaS space is hot spot for startups. The market size of this space projected to grow to roughly $22 billion by 2015. We work with several companies building enterprise/SaaS solutions, ranging from data collection to “consultative sales” to outpatient management and all done in the cloud.
While this list is definitely not exhaustive, I wanted to briefly shed some light on a couple of the reasons why startups should be need insurance and should look into coverage options regardless of where they are in their life cycle.
Cyber Liability Insurance is one of the biggest issues we deal with at Founder Shield. The vast majority of our clients are either straight tech startups or they’re leveraging technology to make their product or service scale. I think we can all agree that it’s probably impossible to run a startup these days without a … Read More
During my time at Kohort, one of the tasks that fell under my responsibility was assisting with the purchase of insurance for the company. We had just raised $3 million in seed money and we were a legitimate company. Legitimate companies need insurance. No one really wants to spend money on something from which you … Read More