Liberty Mutual Insurance is teaming with Ford to bring usage-based insurance to connected vehicles. At-Bay is touting the launch of what it claims is the first automatically underwritten tech E&O policy.
Liberty Mutual Insurance is teaming with Ford to bring usage-based insurance to connected vehicles.
The partnership involves the insurer working with Ford to offer the potential for driving discounts to Liberty Mutual customers who drive a Ford connected vehicle, making it easier for customers to help save money on their auto insurance for their safe driving. The agreement involves most 2020 model year Ford connected vehicles.
Liberty Mutual said the arrangement is part of its broader Mobility initiative to bring new technologies to the insurance experience. The insurer said it will offer a seamless process as part of its Ford partnership that enables the evaluation of a customer’s driving behavior through the FordPass Connect app, eliminating the need for a plug-in device.
At-Bay, a cyber insurance InsurTech startup, is touting the launch of what it claims is the first automatically underwritten tech E&O policy.
The company’s Technology & Cyber Insurance Policy expands coverage beyond cyber liability to include technology errors and omissions (tech E&O). At-Bay said that brokers for the first time will be able to get instant tech E&O quotes using At-Bay’s online broker platform or API, in addition to email submissions.
Just like their current cyber clients, At-Bay’s tech E&O clients will receive security monitoring and risk alerts throughout the lifetime of their policy, completely free of charge. At-Bay helps clients avoid loss before it happens, and their tech E&O customers will be no different.
Policy highlights include explicit coverage for errors and omissions, breach of contract, contractual indemnity, and intellectual property infringement. At-Bay’s tech E&O product has a capacity of up to $10 million in limits, with a focus on software, hardware, and technology service providers.
Sources: Liberty Mutual, At-Bay