Technology
In the ever-changing environment of the technology industry, Lockton recognizes the need to go beyond traditional approaches to new risks. We operate with a high sense of urgency and can quickly respond to fast paced and ongoing change.
Our team has extensive client-side risk management experience and we speak your specific technology language. We anticipate your risk issues as you expand your operations and take the time to develop innovative solutions for your specific current needs.
You will benefit from our experience in:
- Business Interruption and Contingent Business Interruption Analysis
- Cargo Loss Control
- Claims Advocacy
- Consultative Risk Control
- Contract Review
- Detailed Property Risk Marketing (COPE) Reports
- Directors’ & Officers’ Liability
- HPR Engineering
- International Program Design and Management (Master Controlled)
- Network and Media Liability
- Property and Cargo
- Risk Identification and Assessment
- Risk Management Consulting
- Specialty Risk (Business Continuity Planning, Pandemic Response, etc.)
- Tech Errors & Omissions
Additionally, we have extensive experience with the following types of companies:
- Electronic Hardware
- Information Technology
- Internet
- Medical Equipment
- Semiconductor
- Software
- Telecommunications
Lockton Service
Service starts with listening. We take the time to understand your specific goals, design a program that fits your needs, aggressively negotiate coverage, and implement a service plan. You will have the same dedicated service team throughout the entire process which allows us to anticipate your needs and create accountability.
It’s all about you. As a private, family-owned company, all our Associates focus solely on you, our client, rather than public shareholders.
Long-term thinking. Clients stay with us based on our expertise, creative solutions, seamless global resources and outstanding service. Our client retention rate of 95 percent reiterates our commitment to each and every client.
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Success Stories: |
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Cost savings of more than $2M achieved over expiring program
Through a Request for Proposal process, Lockton’s Technology team was presented with a challenge by a large semiconductor company to come up with creative renewal options within two months. The team assisted the risk manager in an initial risk audit even before the company was a client and identified areas which were most in need of solutions.
Once the account was won, a comprehensive analysis of the client’s current program garnered detailed applications, statements and reports used to create a submission that resulted in cost savings of more than $2 million premiums over the expiring program. The team then negotiated an option for the client to use some of this savings to increase their insurance limits where necessary while still reducing insurance premiums from the expiring program by more than $1.2 million.
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