Insurance Requirement Provisions in Technology Contracts: Mitigating Risk, Maximizing Coverage
A live 90-minute CLE webinar with interactive Q&A
Speaker: Robert J. Scott
Date/Time: October 5, 2017, 1:00pm-2:30pm EDT, 10:00am-11:30am PDT
This CLE webinar will provide guidance to business and technology counsel for drafting insurance requirement provisions in technology contracts. The speaker will discuss how to negotiate the appropriate type and amount of insurance coverage—from commercial general liability to cyber liability to umbrella polices—to properly allocate and mitigate risk when contracting for IT services or software development.
Insurance is one of the most overlooked aspects of a technology contract, leaving customers vulnerable to uninsured risks. Contracts for IT services or software development should require one or both parties to purchase minimum levels of insurance to cover the risk of reasonably foreseeable losses.
There are several different types of insurance contracting parties should consider when negotiating technology contracts, including commercial general liability, E&O coverage, automobile liability, cyber liability and more. Counsel must understand the different types of insurance appropriate for various scenarios, how each provision works within the contract, and when and how to negotiate individual and aggregate limits based on the types of risks involved.
Listen as experienced technology attorney Robert Scott explains best practices for drafting insurance requirement provisions in technology contracts. He will discuss considerations for evaluating the appropriate type and amount of insurance coverage and when negotiating insurance provisions in contracts for IT services or software development.
I. Evaluating the different types of insurance coverage appropriate for technology transactions
II. Negotiating insurance provisions
The panelist will review these and other critical issues:
- Insurance provisions that are key to properly allocating risk in technology contracts
- Whether specialty insurance is necessary to protect against certain losses
- Considerations for counsel when evaluating insurance coverage and negotiating insurance provisions
Robert Scott, Managing Partner
Scott & Scott, Southlake, Texas
Mr. Scott is the managing partner of Scott & Scott, LLP a leading law and technology services firm serving the Managed Services Industry. He advises technology companies of all sizes regarding Cloud and Managed Services. Mr. Scott graduated summa cum laude from Austin College in Sherman, Texas with a B.A. in economics. He earned his law degree from Hofstra University School of Law in New York. He is a member of the State Bar of Texas, the Dallas Bar Association’s Computer Law Section, the Data Privacy & Security Committee of the State Bar of Texas, the Science and Technology Section of the American Bar Association, and serves as a member of the MSP Alliance Advisory Board.