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Premiums for the MA plans and Part D vary based on where recipients live and what plan they select.

INTRODUCTIONBusinesses need to know what insurance may be available to protect them against contractual indemnification claims when such claims arise. For example, if a software vendor's product fails and causes a customer to lose valuable sales data, the vendor cannot typically rely on his CGL carrier to respond.

Two recent cases go in opposite directions on this issue, but both support the lawyer's duty in the case were potential coverage is clear. These provisions normally include a mutual waiver of incidental, consequential, indirect and punitive or special damages, and an overall cap on the vendor's liability to the customer for direct damages. This policy insures against liability arising out of the insured's "media activities". The court determined that the issues were (1) whether the vendor's claim for copyright infringement was one of the enumerated claims covered by the insurers' policies, (2) whether coverage under the policies required a causal link between the policyholder's advertising of its works and the contents of the policyholder's works, and (3) whether the claims are excluded under the policy's Exclusion B, excluding copyright infringement claims "arising out of" the breach of a license agreement.

One case from New York found that the lawyer did not have a duty to advise his client of potential coverage claims, while the other from California found lawyers guilty of malpractice due to their failure to advise their clients that insurance coverage may be available for claims against them. In neither cases was the lawyer asked by the client to provide advice about insurance. A larger or more influential customer may negotiate certain exceptions to the mutual waiver of incidental or consequential damages or to the cap on direct damages. This is an occurrence-based policy, covering claims relating to media activities taking place during the policy period. The court held that the copyright infringement claim was covered under the policies. claims arising out of breach of any contract or agreement or failure of performance of contract, provided that this exclusion shall not apply to liability assumed under contract as defined herein[. However, it is worth noting that the exclusion specifically did not apply to any infringement liability claim arising under a contractual indemnification clause.

Both customers and vendors of computer software should consider what insurance products are available in the marketplace, whether they should have certain insurance in their own portfolio, and whether they should require that other contracting parties have particular insurance to protect against significant risk that may arise under their contracts. However, the customer is likely to seek indemnity for the cost of recreating the lost data and for the lost revenues.

Intellectual property assets have become the core value to many small to mid-sized companies in the information technology industry. CGL policies generally do not provide coverage for programming errors, contract performance disputes or any other professional liability issues.

Commissioner seasonal risk secondary beneficiary secondary classification—special industry class secondary dependent properties secondary payer second surplus reinsurance Section 501(c) of the U. Internal Revenue Code Securities Act of 1933 securities class action claims securities deposited with others coverage form J Securities Exchange Act of 1934 securities insuring agreement securities valuation reserve securitization securitization of risk security holder exclusion security requirements seedsmen's errors and omissions liability insurance segregated cell captive (SCC) segregation selected tender selection self-contained policy self-insurance self-insurance pool self-insured retention (SIR) self-insurer's bond self-procurement taxes self rating selling price clause or endorsement Senior Claim Law Associate (SCLA) separate account series business unit (SBU) service fulfillment insurance servicing carrier servicing contractors rider setoff settlement lag settlement options settlement programs settlor coverage severability of exclusions severability of interests clause severability provision in directors and officers applications several liability severance pay severance pay exception wording severity sexual abuse exclusion sexual harassment sexual orientation discrimination share reinsurance share repurchases Sharpe ratio shortfall risk short-rate cancellation shrinking limits defense provision shrink-wrap agreement Side A coverage Side A-only coverage Side B coverage sidecar reinsurance Side C coverage sidetrack agreement signaling capital significant deviation silica silo factor simulation risk modeling method (often called Monte Carlo method) single entity coverage single-entry multiple company interface (SEMCI) single interest insurance single-owner captive single-parent captive single premium insurance single state registration system (SSRS) sinkhole collapse sistership liability exclusion size class slabbed slander sleep insurance sliding scale sliding scale commission sliding scale dividend slip small quantity generator smooth limits, aircraft soft costs coverage soft market soft target solicitor solvency margin solvency ratio sophisticated insured source revelation provisions spamming Spearin Doctrine special acceptance special causes of loss form (ISO) special crime insurance special damages special employer special flood hazard area (SFHA) special investigative unit (SIU) special litigation committee (SLC) special mobile equipment special or specialty risks special perils special personal auto policy (SPAP) special purpose vehicle (SPV) specialty risks special waiver specifications specific excess insurance specific limits specific loss limit specific rating specified causes of loss coverage specified holder specified perils coverage speculative risk speed to market split dollar plans split limits sponsor sponsored captive spousal coverage spousal coverage extension spread loss reinsurance spread of risk spread sectors sprinkler leakage coverage spyware SR-22 stabilization reserve stacking staff model health maintenance organization staff privileges staff privileges liability stair stepping stamp duty stand-alone excess policy stand-alone terrorism coverage standard deviation standard exceptions standard fire policy (SFP) jurisdictions standard form or standard policy Standard Industrial Classification (SIC) standard premium standard property policy (ISO) stare decisis stat card state average weekly wage (SAWW) State Emergency Response Commission (SERC) state funds State Implementation Plans (SIP) statement blank static risk modeling statistical codes statistical method statute of frauds statute of limitations statute of repose statutory accounting principles (SAP) statutory capital statutory coverages statutory inspections statutory insurance statutory law stay of proceedings stevedores legal liability coverage stevedoring stipulation stochastic dominance stock captive stock company stock option stock option claims stop gap endorsement stop loss stop-loss reinsurance (SLR) storekeepers broad form storekeepers burglary and robbery policy storm surge Stowers Doctrine straight life policy strategic risk strategic risk management strict liability strike coverage strike price strikes, riots, and civil commotions (SR&CC) warranty strike-through clause structural risk modeling methods structured finance structured settlement suability factor subbroker subcontractor default insurance subcontractor exception subguard insurance subject business subjective symptoms subject of insurance subject policies subject premium sublimit submission subordinated debenture Subpart F income subpoena subpoena duces tecum subprime loans subrogation subrogation provision subrogation waiver subsidence substandard substitute physician coverage endorsement "sudden and accidental" sue and labor clause summary judgment summons sump pump Superfund superintendent of insurance superseded surety rider supervision coverage supplemental extended reporting period (SERP) supplementary employee retirement plan (SERP) supplementary payments surety surety bond surplus surplus debenture surplus line surplus lines broker surplus lines insurance surplus notes surplus reinsurance surplus relief surplus share surrender survey survival action suspension of coverage endorsement swap swaption swing plans syndicate systemically important financial institution (SIFI) systemic discrimination system safety approach systems performance insurance A B C D E F G H I J K L M N O P Q R S T U V W X Y Z tacit renewal tail tail coverage tail value at risk (Tail Va R) or tail conditional expectation (TCE) takaful targeted enterprise risk insurance (TERI) targeted tender target risk tariff tax acceleration tax factor tax harmonization tax interruption coverage tax multiplier tax opinion insurance Tax Reform Act (TRA) of 1984 Technical and Miscellaneous Revenue Act (TAMRA) of 1988 technique of operations review (TOR) system technology errors and omissions insurance (tech E&O) telecommuting telemedicine Telephone Consumer Protection Act (TCPA) of 1991 temporary partial disability temporary storage location temporary total disability tenants and neighbors liability tender of defense tender offer defense expense 10/10 Rule terminal coverage terminal operator termination term life insurance terrorism terrorism endorsement terrorism insurance Terrorism Risk Insurance Act (TRIA) of 2002 Terrorism Risk Insurance Extension Act (TRIEA) of 2005 Terrorism Risk Insurance Program Reauthorization Act of 2007 (TRIPRA 2007) Terrorism Risk Insurance Program Reauthorization Act of 2015 (TRIPRA 2015) tertiary beneficiary testing coverage test modifier that particular part theft, disappearance, and destruction of money and securities coverage form C thermal pollution third country national (TCN) third party third-party administrator (TPA) third-party beneficiary principle third-party claims third-party employment practices liability coverage third-party liability coverage third-party lien third-party-over action third-party risk threshold threshold level threshold limit value (TLV) tie-in endorsements time element insurance time element loss time series analysis time value of money timing risk Title VII of the Civil Rights Act of 1964 tolling a statute of limitations tontine tool and die floater tort tortfeasor tort threshold total disability total insurable value (TIV) total insured value provision total pollution exclusion Toxic Substances Control Act (TSCA) of 1976 toxic tort tradable risk trade disruption insurance trade dress trade libel trading loss coverage trailer interchange insurance tranche transfer of risk transfer pricing transfer risk pricing transit coverage transitional duties transportation network company (TNC) transportation expenses travel agents errors and omissions insurance travel insurance treaty treaty reinsurance trend analysis trend factor trespasser trial court trip lease triple excess coverage triple trigger theory trip permit trip transit insurance Trojan horse truckers downtime insurance truckers policy truckload (TL) trust agreement trust department errors and omissions coverage trustee trust fund T3 Lloyd's form turnkey operation twisting two-factor authentication A B C D E F G H I J K L M N O P Q R S T U V W X Y Z uberrimae fidei ultimate loss ultimate net loss ultra vires acts umbrella liability policy unaffiliated business unallocated benefit unallocated loss adjustment expense (ULAE) unauthorized insurer unbundling unconditional settlement clause unconscionable unconscious bias underground property damage underinsurance underinsured motorists (UIM) coverage underlyers underlying coverage underlying interest underlying premium underwriter underwriting underwriting agency underwriting capacity underwriting cash flow underwriting class underwriting cycle underwriting expense underwriting guidelines underwriting manager underwriting member underwriting period underwriting profit underwriting risk underwriting year experience undue familiarity undue hardship unearned premium (UEP) unearned premium reserve (UPR) unearned reinsurance premium unfunded retention unfunded self-insurance Unified Carrier Registration Agreement (UCRA) Uniformed Services Employment and Reemployment Rights Act (USERRA) of 1994 uniform resource locator (URL) Uniform Task Based Management System (UTBMS) unilateral contract unilateral extended reporting period provision unimpaired surplus uninsured motorists (UM) coverage unit statistical card universal life insurance unnamed pilot exclusion unoccupied unplanned retention unrelated business unrelated business income tax (UBIT) unrelated risk unreported claims unseaworthiness unusual expenses upset coverage use and occupancy insurance U. Longshore and Harbor Workers' Compensation Act usurped power utility service interruption coverage utilization review A B C D E F G H I J K L M N O P Q R S T U V W X Y Z vacancy permit endorsement vacancy provision vacant vacation liability valuable papers and records coverage valuation valuation date value-added services value-at-risk (VAR) value-based care valued business interruption coverage valued coverage valued policy value of risk (VOR) value reporting form values vanishing premium variable annuity variable interest entity (VIE) variable life insurance vendors coverage vendors dual interest coverage vendors endorsement vendors single interest coverage venturi scrubbers venue verbal threshold vermin vertical exhaustion rule vessel in navigation vesting vexatious litigant viatical settlement vicarious liability Video Privacy Protection Act (VPPA) of 1988 vis major vocational rehabilitation void voidable voluntary compensation endorsement voluntary compensation maritime coverage endorsement Voluntary Employees' Beneficiary Association (VEBA) voluntary market Voluntary Protection Program (VPP) voluntary reserve Volunteer Protection Act of 1997 voyage clause A B C D E F G H I J K L M N O P Q R S T U V W X Y Z wage and hour audit wage and hour claims wage and hour indemnity coverage wage and hour insurance coverage endorsement wages, maintenance, and cure waiting period deductible waiver waiver of inventory waiver of premium waiver of recourse endorsement waiver of subrogation warehouse operators legal liability insurance warehouse to warehouse clause warehousing war exclusion WARN Act exclusion warrant warranty war risk clause war risk insurance Warsaw Convention waste load allocation waterborne equipment exclusion water quality-based limitations water quality-based permit water quality standards weapon of mass destruction (WMD) wearable Web hosting website accessibility discrimination wedding insurance weighted average cost of capital (WACC) weighted average loss forecasting welfare and pension plan bond coverage well control insurance wellness program wet methods wharfinger legal liability coverage whistleblower claim whistleblower provision whistleblower statutes white hat hackers whole life insurance wholesale agent wholesale broker wholesale health insurance wholesale insurance wind or hail deductible window plan with average (WA) with average 3 percent (WA 3%) without prejudice with prejudice Worker Adjustment and Retraining Notification (WARN) Act workers compensation workers compensation and employers liability policy workers compensation catastrophe cover Workers' Compensation Claim Law Associate (WCLA) Workers' Compensation Claim Law Specialist (WCLS) work hardening working interest working layer workmanship exclusion work performed exclusion workplace harassment workplace tort workplace violence insurance worldwide insurance program wrap-around policy wrap-around risk financing program wrap-up wrap-up exclusion endorsement writ write Write-Your-Own (WYO) Program "written as such" written premium wrongful act wrongful death claim wrongful deprivation of a career opportunity wrongful discipline wrongful failure to employ wrongful failure to grant tenure or partnership wrongful failure to promote wrongful termination A B C D E F G H I J K L M N O P Q R S T U V W X Y Z A B C D E F G H I J K L M N O P Q R S T U V W X Y Z year 2000 (Y2K) exclusion Yellow Book York Antwerp Rules A B C D E F G H I J K L M N O P Q R S T U V W X Y Z zero-beta asset Z-list zone rating zone system A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Copyright © International Risk Management Institute, Inc.

Many software vendors are not, from the insurance company's perspective, ideal insurance purchasers. Often there is a time duration associated with express warranties. Indemnification Against Third Party Claims Indemnification clauses deal with third-party claims or suits against one of the contracting parties. Coverage is also typically limited to losses that arise after the customer's acceptance of the product or project. The policyholder was an educational textbook publisher.A B C D E F G H I J K L M N O P Q R S T U V W X Y Z abandonment abatement "absolute" exclusions absolute pollution exclusion absorbed dose accept access to records clause accident accidental death accidental death and dismemberment (AD&D) accidental means accident year data accident year experience accommodation line accountable care organization (ACO) accountants professional liability insurance account current accounts receivable coverage accreditation Accredited Adviser in Insurance (AAI) accumulation accumulation period acquisition costs act-as-one provision action levels action versus the insurer provision active retention activity standards act of God actual cash value (ACV) actuarial report actuary acute exposure acute toxicity ADA Amendments Act (ADAAA) of 2008 additional expense coverage additional insured additional insured endorsement additional living expense (ALE) coverage additional medical additional named insured add-on control device "add-on" no-fault laws adhesion contract adjustable feature adjusted earnings adjusted net worth adjuster administrative law administrative order administrative order on consent administrative services only (ASO) administrator admiralty law admitted assets admitted/authorized reinsurance admitted company admitted insurance admitted insurer admitted reinsurer advanced wastewater treatment advance loss of profit (ALOP) insurance advancement of defense costs provision adverse selection advertisement advertising injury advisory endorsement aerobic treatment affiant affidavit affiliated companies affiliated risk affinity sales affirmative defense Affordable Care Act (ACA) afterburner aftermarket parts Age Discrimination in Employment Act (ADEA) of 1967 agency agency agreement agency captive agency construction management agency plant agency system agent agent of record agents errors and omissions agent's license aggravation aggregate aggregate deductible aggregate excess insurance aggregate excess of loss reinsurance aggregate limit of liability aggregate limits reinstatement aggregate stop-loss reinsurance agreed amount clause agreed value coverage option or provision agreement not to rely on governmental immunity Agribusiness and Farm Insurance Specialist (AFIS®) airborne particulates aircraft insurance policies airport premises liability, aircraft air quality control region air quality standards air stripping air toxins aleatory contract alienated premises alien insurer allegations allied healthcare professional liability insurance all inclusive coverage allocated expenses allocated loss adjustment expense (ALAE) allocated loss expense allocation all risks coverage all risks, difference-in-conditions (builders risk) all risks, ground and flight all risks, not in motion alteration of medical records exclusion alternate employer endorsement alternative dispute resolution (ADR) alternative dispute resolution provision alternative market alternative remedial contract strategy contractors alternative risk financing facilities alternative risk financing mechanism alternative risk transfer (ART) alternative risk transfer (ART) market A. Best rating amendment of "insured contract" definition endorsement AMERCO v.Commissioner American Association of Insurance Services (AAIS) American Institute for Chartered Property Casualty Underwriters (AICPCU) American Institute of Architects (AIA) American Institute of Certified Public Accountants (AICPA) American Insurance Association (AIA) American Society for Testing and Materials (ASTM) Americans with Disabilities Act (ADA) of 1990 American Trucking Associations, Inc.It has been estimated that the value of intellectual property owned by S&P 500 companies is . With so much at stake, lawsuits involving intellectual property can put businesses at risk for their very survival. 2000), the client retained an intellectual property law firm to represent it in trademark and patent infringement lawsuits pending in Florida. They also typically do not cover consequential financial loss, and most exclude claims arising out of professional services.Defense costs alone can quickly mount to over

Many software vendors are not, from the insurance company's perspective, ideal insurance purchasers. Often there is a time duration associated with express warranties. Indemnification Against Third Party Claims Indemnification clauses deal with third-party claims or suits against one of the contracting parties. Coverage is also typically limited to losses that arise after the customer's acceptance of the product or project. The policyholder was an educational textbook publisher.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z abandonment abatement "absolute" exclusions absolute pollution exclusion absorbed dose accept access to records clause accident accidental death accidental death and dismemberment (AD&D) accidental means accident year data accident year experience accommodation line accountable care organization (ACO) accountants professional liability insurance account current accounts receivable coverage accreditation Accredited Adviser in Insurance (AAI) accumulation accumulation period acquisition costs act-as-one provision action levels action versus the insurer provision active retention activity standards act of God actual cash value (ACV) actuarial report actuary acute exposure acute toxicity ADA Amendments Act (ADAAA) of 2008 additional expense coverage additional insured additional insured endorsement additional living expense (ALE) coverage additional medical additional named insured add-on control device "add-on" no-fault laws adhesion contract adjustable feature adjusted earnings adjusted net worth adjuster administrative law administrative order administrative order on consent administrative services only (ASO) administrator admiralty law admitted assets admitted/authorized reinsurance admitted company admitted insurance admitted insurer admitted reinsurer advanced wastewater treatment advance loss of profit (ALOP) insurance advancement of defense costs provision adverse selection advertisement advertising injury advisory endorsement aerobic treatment affiant affidavit affiliated companies affiliated risk affinity sales affirmative defense Affordable Care Act (ACA) afterburner aftermarket parts Age Discrimination in Employment Act (ADEA) of 1967 agency agency agreement agency captive agency construction management agency plant agency system agent agent of record agents errors and omissions agent's license aggravation aggregate aggregate deductible aggregate excess insurance aggregate excess of loss reinsurance aggregate limit of liability aggregate limits reinstatement aggregate stop-loss reinsurance agreed amount clause agreed value coverage option or provision agreement not to rely on governmental immunity Agribusiness and Farm Insurance Specialist (AFIS®) airborne particulates aircraft insurance policies airport premises liability, aircraft air quality control region air quality standards air stripping air toxins aleatory contract alienated premises alien insurer allegations allied healthcare professional liability insurance all inclusive coverage allocated expenses allocated loss adjustment expense (ALAE) allocated loss expense allocation all risks coverage all risks, difference-in-conditions (builders risk) all risks, ground and flight all risks, not in motion alteration of medical records exclusion alternate employer endorsement alternative dispute resolution (ADR) alternative dispute resolution provision alternative market alternative remedial contract strategy contractors alternative risk financing facilities alternative risk financing mechanism alternative risk transfer (ART) alternative risk transfer (ART) market A. Best rating amendment of "insured contract" definition endorsement AMERCO v.

Commissioner American Association of Insurance Services (AAIS) American Institute for Chartered Property Casualty Underwriters (AICPCU) American Institute of Architects (AIA) American Institute of Certified Public Accountants (AICPA) American Insurance Association (AIA) American Society for Testing and Materials (ASTM) Americans with Disabilities Act (ADA) of 1990 American Trucking Associations, Inc.

It has been estimated that the value of intellectual property owned by S&P 500 companies is $3. With so much at stake, lawsuits involving intellectual property can put businesses at risk for their very survival. 2000), the client retained an intellectual property law firm to represent it in trademark and patent infringement lawsuits pending in Florida. They also typically do not cover consequential financial loss, and most exclude claims arising out of professional services.

Defense costs alone can quickly mount to over $1 million. After three years, the case was turned over to another law firm, which promptly requested that the client report the claims to its insurance carriers. 4 739 (1998), the California Supreme Court, ruling on a statute of limitations question, assumed that failure to advise a client about potential coverage would constitute legal malpractice. E&O insurance provides protection against the risks of failure of the policyholder's product to perform its function and the policyholder's failure to perform services within the terms of the contract.

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Many software vendors are not, from the insurance company's perspective, ideal insurance purchasers. Often there is a time duration associated with express warranties. Indemnification Against Third Party Claims Indemnification clauses deal with third-party claims or suits against one of the contracting parties. Coverage is also typically limited to losses that arise after the customer's acceptance of the product or project. The policyholder was an educational textbook publisher.A B C D E F G H I J K L M N O P Q R S T U V W X Y Z abandonment abatement "absolute" exclusions absolute pollution exclusion absorbed dose accept access to records clause accident accidental death accidental death and dismemberment (AD&D) accidental means accident year data accident year experience accommodation line accountable care organization (ACO) accountants professional liability insurance account current accounts receivable coverage accreditation Accredited Adviser in Insurance (AAI) accumulation accumulation period acquisition costs act-as-one provision action levels action versus the insurer provision active retention activity standards act of God actual cash value (ACV) actuarial report actuary acute exposure acute toxicity ADA Amendments Act (ADAAA) of 2008 additional expense coverage additional insured additional insured endorsement additional living expense (ALE) coverage additional medical additional named insured add-on control device "add-on" no-fault laws adhesion contract adjustable feature adjusted earnings adjusted net worth adjuster administrative law administrative order administrative order on consent administrative services only (ASO) administrator admiralty law admitted assets admitted/authorized reinsurance admitted company admitted insurance admitted insurer admitted reinsurer advanced wastewater treatment advance loss of profit (ALOP) insurance advancement of defense costs provision adverse selection advertisement advertising injury advisory endorsement aerobic treatment affiant affidavit affiliated companies affiliated risk affinity sales affirmative defense Affordable Care Act (ACA) afterburner aftermarket parts Age Discrimination in Employment Act (ADEA) of 1967 agency agency agreement agency captive agency construction management agency plant agency system agent agent of record agents errors and omissions agent's license aggravation aggregate aggregate deductible aggregate excess insurance aggregate excess of loss reinsurance aggregate limit of liability aggregate limits reinstatement aggregate stop-loss reinsurance agreed amount clause agreed value coverage option or provision agreement not to rely on governmental immunity Agribusiness and Farm Insurance Specialist (AFIS®) airborne particulates aircraft insurance policies airport premises liability, aircraft air quality control region air quality standards air stripping air toxins aleatory contract alienated premises alien insurer allegations allied healthcare professional liability insurance all inclusive coverage allocated expenses allocated loss adjustment expense (ALAE) allocated loss expense allocation all risks coverage all risks, difference-in-conditions (builders risk) all risks, ground and flight all risks, not in motion alteration of medical records exclusion alternate employer endorsement alternative dispute resolution (ADR) alternative dispute resolution provision alternative market alternative remedial contract strategy contractors alternative risk financing facilities alternative risk financing mechanism alternative risk transfer (ART) alternative risk transfer (ART) market A. Best rating amendment of "insured contract" definition endorsement AMERCO v.Commissioner American Association of Insurance Services (AAIS) American Institute for Chartered Property Casualty Underwriters (AICPCU) American Institute of Architects (AIA) American Institute of Certified Public Accountants (AICPA) American Insurance Association (AIA) American Society for Testing and Materials (ASTM) Americans with Disabilities Act (ADA) of 1990 American Trucking Associations, Inc.It has been estimated that the value of intellectual property owned by S&P 500 companies is $3. With so much at stake, lawsuits involving intellectual property can put businesses at risk for their very survival. 2000), the client retained an intellectual property law firm to represent it in trademark and patent infringement lawsuits pending in Florida. They also typically do not cover consequential financial loss, and most exclude claims arising out of professional services.Defense costs alone can quickly mount to over $1 million. After three years, the case was turned over to another law firm, which promptly requested that the client report the claims to its insurance carriers. 4 739 (1998), the California Supreme Court, ruling on a statute of limitations question, assumed that failure to advise a client about potential coverage would constitute legal malpractice. E&O insurance provides protection against the risks of failure of the policyholder's product to perform its function and the policyholder's failure to perform services within the terms of the contract.This is why prudent technology companies are evaluating their risk management portfolio to assure that they have the coverage necessary to respond to intellectual property infringement claims. The insurance carriers refused to reimburse the client for defense costs incurred prior to receiving notice of the claims. Thus, it is clear that lawyers in general must be familiar with insurance law and be careful to protect their clients' rights to insurance coverage. TYPICAL RISK ALLOCATION PROVISIONS IN SOFTWARE LICENSESA. For instance, E&O insurance would apply when a policyholder faced claims because its product caused a loss of data to others, including the loss of use of that data.Because so many software developers and vendors are undercapitalized, their business customers as well should insist upon their vendors' having insurance programs that will stand behind the vendors' contractual indemnification obligations. The client claimed that the first law firm had committed legal malpractice by, among other things, failing to advise the client of the possibility that its insurance policies might cover the costs of defending the intellectual property lawsuits. The clear implication is that, if cases did recognize such a duty of an insurer to defend such claims, the lawyer would have the duty to disclose this to his client. Express and Implied Warranties The extent of warranty protection in a software license is usually a matter of business leverage. It would also apply of the policyholder's product or service failed, causing the loss of use of tangible property to others (without physical injury). , May 8, 2001), involved a claim for coverage under certain media special perils insurance policies.They usually do not have experience insuring against and managing commercial risk, and they tend to be risk takers, rather than being risk adverse. A common indemnity clause in a software license agreement is for the vendor to defend and indemnify the customer and hold the customer harmless from and against third party claims for infringement of intellectual property rights, for claims of injury, death or property damage brought by the vendor's employees, agents or contractors resulting from services at the customer site. If a business is sued because the software vendor's product allowed third parties unauthorized access to intellectual property, such as trade secrets, or confidential personal information, such claims may not be covered, depending on the wording of the policy. Multimedia Liability Insurance Executive Risk Indemnity Inc. It was sued by the vendor of a test creation software product that incorporated into its software program customized test materials provided by the policyholder.As a result, insurance companies have begun marketing new policies providing broader intellectual property coverage, as well as coverage for defamation, invasion of privacy, hacking and viruses. LAWYERS' DUTY TO ADVISE CLIENTS ABOUT INSURANCE COVERAGELawyers who fail to advise their clients about insurance coverage, or fail to provide notice of pending litigation to insurance companies, may be committing malpractice. Because third party claims are not within the contracting parties' control, the damages resulting from such claims should be addressed separately from other provisions allocating risks between the parties. Limitations of Liability The limitation of liability section typically relates to the liability of the parties to each other, as opposed to third party actions covered by the indemnification section. Endorsements are typically available to limit or broaden the scope of E&O insurance. , a subsidiary of Chubb, markets a Multimedia Liability Insurance policy. The vendor sued after allegedly learning that the policyholder was sublicensing for a fee the software products in violation of the license agreement.If the standard premium stays at $134, why will many beneficiaries pay more?A “hold harmless” provision in federal law prohibits Medicare from raising Part B premiums if that action would reduce beneficiaries’ Social Security benefits.

million. After three years, the case was turned over to another law firm, which promptly requested that the client report the claims to its insurance carriers. 4 739 (1998), the California Supreme Court, ruling on a statute of limitations question, assumed that failure to advise a client about potential coverage would constitute legal malpractice. E&O insurance provides protection against the risks of failure of the policyholder's product to perform its function and the policyholder's failure to perform services within the terms of the contract.This is why prudent technology companies are evaluating their risk management portfolio to assure that they have the coverage necessary to respond to intellectual property infringement claims. The insurance carriers refused to reimburse the client for defense costs incurred prior to receiving notice of the claims. Thus, it is clear that lawyers in general must be familiar with insurance law and be careful to protect their clients' rights to insurance coverage. TYPICAL RISK ALLOCATION PROVISIONS IN SOFTWARE LICENSESA. For instance, E&O insurance would apply when a policyholder faced claims because its product caused a loss of data to others, including the loss of use of that data.Because so many software developers and vendors are undercapitalized, their business customers as well should insist upon their vendors' having insurance programs that will stand behind the vendors' contractual indemnification obligations. The client claimed that the first law firm had committed legal malpractice by, among other things, failing to advise the client of the possibility that its insurance policies might cover the costs of defending the intellectual property lawsuits. The clear implication is that, if cases did recognize such a duty of an insurer to defend such claims, the lawyer would have the duty to disclose this to his client. Express and Implied Warranties The extent of warranty protection in a software license is usually a matter of business leverage. It would also apply of the policyholder's product or service failed, causing the loss of use of tangible property to others (without physical injury). , May 8, 2001), involved a claim for coverage under certain media special perils insurance policies.They usually do not have experience insuring against and managing commercial risk, and they tend to be risk takers, rather than being risk adverse. A common indemnity clause in a software license agreement is for the vendor to defend and indemnify the customer and hold the customer harmless from and against third party claims for infringement of intellectual property rights, for claims of injury, death or property damage brought by the vendor's employees, agents or contractors resulting from services at the customer site. If a business is sued because the software vendor's product allowed third parties unauthorized access to intellectual property, such as trade secrets, or confidential personal information, such claims may not be covered, depending on the wording of the policy. Multimedia Liability Insurance Executive Risk Indemnity Inc. It was sued by the vendor of a test creation software product that incorporated into its software program customized test materials provided by the policyholder.As a result, insurance companies have begun marketing new policies providing broader intellectual property coverage, as well as coverage for defamation, invasion of privacy, hacking and viruses. LAWYERS' DUTY TO ADVISE CLIENTS ABOUT INSURANCE COVERAGELawyers who fail to advise their clients about insurance coverage, or fail to provide notice of pending litigation to insurance companies, may be committing malpractice. Because third party claims are not within the contracting parties' control, the damages resulting from such claims should be addressed separately from other provisions allocating risks between the parties. Limitations of Liability The limitation of liability section typically relates to the liability of the parties to each other, as opposed to third party actions covered by the indemnification section. Endorsements are typically available to limit or broaden the scope of E&O insurance. , a subsidiary of Chubb, markets a Multimedia Liability Insurance policy. The vendor sued after allegedly learning that the policyholder was sublicensing for a fee the software products in violation of the license agreement.If the standard premium stays at 4, why will many beneficiaries pay more?A “hold harmless” provision in federal law prohibits Medicare from raising Part B premiums if that action would reduce beneficiaries’ Social Security benefits.

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