Beazley vs Risklytics Tech E&O Insurance

Beazley sells technology errors and omissions coverage bundled inside MediaTech, a single small-business form that also includes professional E&O, media liability and cyber coverage. It is not offered as a standalone tech E&O policy for this segment. ¹Company-reported. US small-business MediaTech product page; does not address Beazley's larger-account technology E&O programs, if any.

Risklytics Insurance Services is a licensed insurance producer (NPN 22311838) that places Risklytics Professional Liability (Tech E&O) Insurance with outside carriers; it says it does not underwrite policies itself. ⁷Company-reported. About page; describes Risklytics' brokerage model generally, restated for this line.

Beazley's posted Digital MediaTech Application names Beazley Insurance Company, Inc. as the insurer on its cover page. The actual issuing entity and state of admission for a given policy is confirmed on the quote and declarations, not the blank application. ⁵Company-reported. Application form F00859, 042022 edition; not a regulator record and not evidence of the entity for every state or route.

Risklytics does not name the carrier that underwrites Risklytics Professional Liability (Tech E&O) Insurance on its site. It says it places business with specialist insurers willing to write robotics, autonomy and AI risk; the issuing carrier appears on the bound policy. ^10,7Company-reported. Lines page and about page; no specific insurer is published for this line.

Not described in the reviewed sources.

Risklytics says enterprise customers usually require this coverage in procurement before signing a first customer contract, and that it becomes relevant once a customer relies on a model's output. ¹⁰Company-reported. Lines page.

The sample MediaTech form defines two technology-specific triggers: a Tech & Professional Services Wrongful Act (a negligent act, error, omission, misstatement or unintentional breach of contract in rendering Tech Services) and a Tech Product Wrongful Act (a Tech Product that fails to perform as intended, or software copyright infringement). Both are separate from the policy's Media Wrongful Act trigger. ⁶Company-reported. Sample policy form F00731, 022019 edition, insuring agreements and definitions; the issued policy's wording and any endorsements control.

The sample form excludes patent infringement and trade-secret misappropriation connected to Tech Products or other products, even though it insures Tech Product Wrongful Acts generally. ⁶Company-reported. Sample policy form F00731, 022019 edition, Patent & Misappropriation of Information exclusion; excludes only patent and the described trade-secret scenario, not all IP claims.

Risklytics describes Tech E&O as responding when a company's product or service costs a customer money, such as a perception model mislabeling shipments or an integration error corrupting order data, and distinguishes it from cyber liability, which covers hacks and data leaks rather than a model's own faulty output. ¹⁰Company-reported. Lines page; the issued policy and declarations control actual coverage.

Coverage is claims-made and reported: it responds only to claims first made and reported during the policy period (or a purchased Optional Extension Period), and defense costs reduce the available limit. A buyer can purchase an Optional Extension Period (a tail) for additional premium after non-renewal or cancellation. ^6,5Company-reported. Sample policy form F00731; application form repeats the same notice; specific tail pricing and duration are set in the declarations, not disclosed publicly.

Risklytics lists a typical ask of $1 million to $5 million per claim for this line. ¹⁰Company-reported. Lines page; actual limits are set on the bound policy.

Not described in the reviewed sources.

Risklytics calls Tech E&O the hardest line to get right because some insurers are quietly excluding AI-related losses, and says it reads every policy form for AI exclusions before it binds. ¹⁰Company-reported. Lines page.

Beazley's MediaTech application asks for employee count, US and non-US revenue for the last three years, the share of revenue from managed IT services, and answers about ransomware controls such as multi-factor authentication, VPN use, patching cadence and backup frequency. ⁵Company-reported. Application form F00859, 042022 edition, General Information, Revenue Information and Ransomware Controls sections; a completed application does not establish acceptance.

Beazley says small and midsize MediaTech business is placed through third-party placement platforms or by email, with automated processing rather than a direct-to-consumer purchase flow. ¹Company-reported. MediaTech product page SME placement paragraph; describes the stated distribution channel only.

You start Risklytics Professional Liability (Tech E&O) Insurance through Risklytics' online application. Risklytics says there is no broker fee on top of the premium and a licensed producer stays on the file until the program binds; its commission is paid by the carrier out of the premium either way. ^11,7Company-reported. Pricing page describes the general application and fee process, not a line-specific form.

Beazley says its cyber and tech claims team, including experienced litigators, has handled thousands of E&O claims involving software failures, implementation errors and IP disputes. ¹Company-reported. MediaTech product page claims paragraph; outcome and volume figures are Beazley's own description and not independently verified.

Not described in the reviewed sources.