Protect Your Business From the Unforeseen
Every company has protection needs beyond liability coverage. Your company must remain compliant with the Federal Acquisition Regulation (FAR) requirements, but there are also many risks the required FAR policies do not cover. Accusation of an unjust termination, a building fire, a cyberattack, or other unforeseen incidents can cause costly damage that many businesses cannot afford.
The team at GovTechTM specializes in providing comprehensive, cost-effective risk management for Government IT Contractors. GovTechTM reviews your current policies to identify any gaps or vulnerabilities in your company’s coverage that could put your business at risk.
For FAR compliance and additional protection against the unforeseen, GovTechTM works with strategic partners to give your government IT business access to coverage tailored to its specific needs. Policies available include:
- Commercial Crime
- Cyber & Data Breach
- Employment Practices Liability
- International/Overseas Exposure (including Defense Base Act)
- Workers’ Compensation
Contact GovTechTM to speak with a specialist about protecting your government IT business against risk.
As a Government IT Contractor, you may be driving around with expensive technology and tools. Compliance with FAR and protection against the costs of lawsuits, medical bills, weather damage, theft, and more require a comprehensive automobile policy.
Contact the team at GovTechTM for help getting the most relevant coverage for your company’s auto needs.
Commercial Crime Insurance
Most commercial property policies do not cover crime-related losses, which is why it is imperative to protect your government IT company with commercial crime insurance.
Commercial crime policies available include coverage for:
- Social engineering (phishing)
- Computer fraud
- Employee dishonesty
- Funds transfer fraud
- Forgery or alteration
- Kidnap, ransom, or extortion
- Money and securities crimes
- Money order fraud and counterfeit money
- Deception fraud
Through its strategic partnerships, GovTechTM can help get the commercial crime coverage needed for your government IT business.
Cyber & Data Breach Insurance
In today’s society, many exchanges occur online, and information can be left vulnerable. If your company handles confidential or corporate information, being prepared for a potential breach, cyber extortion, phishing, and other cybersecurity risks is essential.
Cyber and data breach insurance can cover liability for breaches of your customers’ personal and/or company information, including Social Security numbers and credit card information.
This coverage will cover many expenses that come with a data breach or hack, including:
- Cyber extortion
- Data loss
- Data breach
- Notification costs
- Credit monitoring
- Defense costs
- Fines and penalties
Cyber and data breach insurance will also provide protection in case of business interruption, data loss or destruction, computer fraud, funds transfer loss, and cyber extortion that may result from a cyberattack.
Employment Practices Liability Insurance
In recent years, liability claims involving employment practices have increased considerably. Employees are deemed right most of the time by the courts, leaving your company liable for any damages that may have been incurred.
Through its partnership with The Hartford, GovTechTM offers the protection your business needs in the event of a workplace liability claim.
Your business will be covered if an employee makes accusations of:
- Unjust termination
- Failure to hire or promote
In addition to employment practices liability coverage, you’ll receive learning tools and training resources to help prevent employee-related lawsuits from happening in the first place.
General liability insurance can protect your business from some types of property damage, but weather, fire, and theft can cause losses beyond general liability coverage. Without property insurance, recovering the cost of technology and equipment in the event of an incident can be more than some companies can afford.
Most domestic insurance policies don’t cover losses that occur overseas. While Defense Base Act insurance is required by FAR as international workers’ compensation for government contracts, other insurance can protect your business from additional risks. These policies can cover bodily injury or property damage lawsuits and losses to your overseas business property, and they can even provide additional benefits for employees or officers that are injured while traveling.
Insurance coverage for international exposures can include:
- Defense Base Act
- Foreign General Liability
- Foreign Contingent Auto Liability
- Foreign Property
- Business Travel Accident
- Kidnap, Ransom, or Extortion
Through its strategic partnerships, GovTechTM can offer insurance expertise and coverage for your business insurance needs anywhere in the world.
Having workers’ compensation insurance is not only mandated by FAR, it is critical to the safety of your company’s employees. When slips, falls, or other on-the-job accidents happen, a workers’ compensation policy provides the necessary medical coverage and wage replacement for injured employees.
Through GovTechTM, your business can get the policy needed to protect its employees and comply with government contracts.
Protect Against Risk With GovTech™
Insurance offerings from GovTechTM are designed with Government IT Contractors in mind. Leveraging partnerships from leading risk management consultants and providers, the team at GovTechTM ensures your business has the coverage it needs.
Contact the GovTechTM team to find out more about coverage offerings.