MSPAlliance Announces First Comprehensive Professional Liability Insurance Program for Managed Service Providers
Low-cost professional liability insurance offers advanced protection for MSPs; available exclusively to MSPAlliance members.
Chico, CA (PRWEB) April 2, 2008 — MSPAlliance, the International Association of Managed Service Providers, today announced the launch of a new professional liability insurance for Managed Service Providers (MSPs). This insurance program will be underwritten by Lloyd’s of London and brokered by Hilb Rogal & Hobbs (HRH), the eighth largest insurance and risk management intermediary in the United States, with more than 140 offices throughout the world.
With a starting price of less than $3,000, the MSPAlliance Professional Liability Insuranceâ„¢ offers managed service providers a full range of unique features:
- It is the first professional liability insurance product specifically designed for MSPs, offering comprehensive errors and omissions coverage for claims made due to alleged negligence in the performance of services;
- A low pricing cost structure that takes into consideration the risk management benefits derived by being a member of MSPAlliance;
- Companies who have passed the Managed Services Accreditation Programâ„¢ exam will be able to access additional benefits
- It also offers additional coverage options for Network Security and Privacy, General Liability, Directors & Officers, and Employment Practices Liability.
- Claims against insured MSPs will be defended by managed services legal experts at Scott & Scott LLP (www.scottandscottllp.com)
“The MSPAlliance Professional Liability Insuranceâ„¢ is a significant advancement for MSPs,” said Charles Weaver, president of MSPAlliance. “MSPs now have access to comprehensive professional liability insurance specifically tailored for them, due in large part to the higher degree of professionalism we require and obtain from our members.”
This new insurance program is available exclusively to MSPAlliance members. “For too long, emerging technology providers have been unable to obtain adequate coverage at a reasonable price that addresses their particular capabilities and needs, so we partnered with the MSPAlliance to solve that problem,” said Paul Paray, section head of HRH’s TechMedia Advisory Group. “Working together with the MSPAlliance, we have developed a program that is affordable and provides significantly better coverage.”
“When we were looking for insurance, our existing broker told us we could not find the coverage we needed for less than $40,000,” said Jeffrey Nelson, Managing Partner of Anexio, an MSP based on Florida’s Gulf Coast. “Not only did we get better terms under the MSPAlliance’s Professional Liability Insuranceâ„¢, we were able to obtain the coverage at less than one-tenth the cost.”
In order to qualify for the policy’s benefits, MSPs must be a member in good standing with the MSPAlliance. With more than 5,000 members worldwide, the Alliance is the largest organization of its kind, and offers the industry’s only accreditation program. More information about the MSPAlliance’s Professional Liability Insuranceâ„¢ is available at www.mspalliance.com/insurance.
The MSPAlliance is an association of professional Managed Service Providers and technology enablers, who work in a collaborative effort to define, promote and educate the Managed Services Industry and the end-user consumer on the adoption and successful use of technology through Managed Services.
For more information about the MSPAlliance and the Managed Services Accreditation Program please visit www.mspalliance.com.
About Hilb Rogal & Hobbs
Hilb Rogal & Hobbs Company (HRH) is the eighth largest insurance and risk management intermediary in the United States, with over 140 offices throughout the United States and the world. HRH helps clients manage their risks in property and casualty, employee benefits, professional liability and other areas of specialized exposure. In addition, HRH offers a full range of personal and corporate financial products and services. HRH is focused on understanding our clients’ businesses, employees and risks, as well as the insurance and financial markets, so that we can develop insurance, risk management and employee benefits solutions that best fit their needs. The company’s common stock is traded on the New York Stock Exchange, symbol HRH. More information about HRH may be found at www.hrh.com.