Insurance brokerage for insurtechs
Your E&O Wording Should Account for Your Technology and Insurance Activities
Send one issued policy ahead, your technology E&O or your insurance E&O, declarations and endorsements included. In one free hour, we examine that policy's wording and discuss the other points of our annual 8-Point Stress Test from what you tell us about your program. You keep the findings and a fix list for the policy you send, whether or not you appoint LION.
- Strengths in the policy you send
- Any wording gaps identified in that policy
- A fix list for that policy, which you keep
One hour. No obligation. Confidential. Your current broker is not contacted. You keep the findings.
$250M+
recovered in financial institution claims LION has handled
8 to 12
material gaps found in a typical program LION reviews
20+ years
of founder experience placing financial institution coverage
1 policy
is all you send to begin the free assessment
Before a claim tests your coverage
Separate E&O policies can leave uncertainty about which one responds
- Do separate E&O policies each describe only part of your operation?
- Have critical vendor changes been checked against coverage triggers, exclusions, and sublimits?
- Have new products or distribution arrangements outgrown the definitions in your policy?
A complete-looking schedule can leave real uncertainty about which policy responds, and a loss is a difficult time to resolve it. We compare the policy you send with the technology and insurance activities you describe, and identify the questions that need the other policy.
The 8-Point Stress Test
Eight questions, every client program, every year. The policy you send is read at the highlighted point; the rest are discussed from what you tell us.
Coverage coordination
Read the coverage grant for the activities that matter
One business can carry several exposures, and a technology exclusion can exclude claims arising from activities central to it. We examine the coverage grant, the definitions, and the exclusions in the policy you send against the activities you describe, and identify the questions that require the other policy.
What we check in your policy
Technology exclusions against the activities you describe as central to the business
The coverage grant in the policy you send, and the questions that need the other policy
How professional services and technology services are defined in the policy you send
Vendor dependencies
Name the dependency before the claim names it for you
A cyber loss was once paid in full because the wording named the exact vendor dependency that failed. That is why wording matters. We discuss the vendors, AI uses, and distribution arrangements you describe, check the relevant provisions in the E&O policy you send, and flag the questions that need other documents.
What we check in your policy
The vendors you describe, against relevant provisions in the policy you send
AI and model-risk exclusions against how your business uses AI and models
Distribution arrangements and new products against the definitions in the policy you send
Anonymized placement example
Two exposures. One coordinated placement.
An insurtech's technology E&O sat with one carrier and its MGA E&O with another. The program was rebuilt on one form with one carrier covering both exposures. This example involved a broader engagement; your free assessment covers the policy you send.
One form
one carrier, both exposures
Coverage depends on the policy's terms. The structure was addressed before a claim could test it.
One policy, one hour
What to send
Send one issued technology E&O or insurance E&O policy, declarations and endorsements included. Choose the policy connected to the activity you most want to discuss. That is the whole preparation.
Within the 8-Point Stress Test, the policy is read through five questions. The remaining points are discussed from what you tell us about the program.
The five questions
Who is insured?Which people, entities, and activities the wording includes.
When does coverage attach?The trigger, reporting requirements, and timing provisions.
Who controls the defense?Counsel selection, consent, settlement authority, and conditions.
What does the form take away?Exclusions, restrictions, and any exceptions that give coverage back.
How much is actually available?Limits, sublimits, retentions, and what erodes them.
Prefer an introduction first?
Discuss the coverage questions between your technology and your insurance.
Choose the introduction if you want to discuss fit before sending a policy. Spend 15 minutes with Mark Flippen discussing your priorities and whether LION's approach fits your institution.
No policy required. The introduction does not include policy findings or a fix list.
Ready to send a policy? Book a Free Assessment. Send one issued policy ahead; in one hour you receive findings and a fix list for that policy.