Buying startup company insurance can be a daunting task. The insurance market is fragmented and there are no shortage of products out there. The industry is not exactly the tech savvy either and many brokers still employ items as archaic as fax machines in their practices. Just finding where to start can be a hassle! … Read More
Insurance for Internet of Things Companies — what you need to know The Internet of Things space is exploding right now and shows no signs of slowing down. In fact, some sources estimate that there will be 200 billion connected devices on the planet by 2020. The current global market size is estimated at $4.9 … Read More
“Barefoot” running shoes have trended hard over the last few years. Vibram is the company behind this revolution with their “FiveFingers” shoe product. They touted the shoes as having a full range of benefits including: Strengthen muscles in the feet and lower legs Improve range of motion in the ankles, feet, and toes Stimulate neural function important … Read More
When we give our clients quotes, most of the time they have questions for us. Usually the same questions pop up over and over again. I’m hoping that this post will serve as a valuable resource for our future clients (or anyone else out there staring at a quote and scratching their head). So let’s … Read More
WTF is inland marine insurance? The better question is probably “why should I care?” Inland marine insurance is a type of coverage can actually be sneaky important for a decent proportion of the startup world.
Only weeks after Snapchat made the headlights for spurning a $3+ billion buyout offer, the company is back in the limelight in a less-than-ideal fashion.
What is it? At a very high level, business interruption insurance (“BII”) protects the insured when business operations are interrupted (no, really?!). Typically this coverage is paired with others, including General Liability and Cyber Liability.
Background As we mentioned in a previous post, many of the startups we work with at Founder Shield are a new breed of B2C services. These companies leverage the latest technology to perform traditional services more efficiently and create a much better user experience than ever before.
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