Overview — Technology Professional Liability Markets from Preferred Concepts LLC
Preferred Concepts LLC places Technology professional liability accounts through competitive wholesale markets. Technology accounts present a wide array of professional liability exposures and typically fall into two groups: developers of technology (the most common purchasers of tech E&O) and users of technology (who have different coverage needs). Preferred Concepts works with various carriers and program partners to help you place both routine and hard-to-place technology risks.
Developers of Technology
Developers — or IT professionals — are the most frequent buyers of professional liability protection. This includes organizations that design, build, integrate, or maintain software and systems such as:
Website developers
Software developers
Systems and computer consultants
Database services
Network administrators
Security consultants
Systems procurement
Transactional Internet services
Users of Technology
Users of technology are more varied and traditionally less likely to purchase professional liability coverage, but many have identifiable exposures that require tailored solutions. Typical user classes include:
Internet advertisers and marketing organizations
e-Professionals delivering traditional services online
e-Commerce companies (pure-play online businesses)
"Clicks & mortar" companies — traditional businesses with transactional web presence
Content providers — portals, search engines and specialized content sites
Coverage Highlights and Advantages
Broad professional liability/E&O capacity for software, systems, and Internet services.
Optional media/intellectual property considerations — for accounts with potential copyright, trademark, patent, defamation, or privacy exposures.
Access to competitive wholesale markets and specialty underwriters through Preferred Concepts' broker relationships.
Flexible placement options for standard technology risks as well as hard-to-place or distressed accounts.
Ideal Accounts and Appetite
Preferred Concepts is set up to help agents place a wide range of technology clients. The program is a good fit for:
Small to mid-sized development shops and IT consultants seeking E&O limits and tailored endorsements.
Online service providers and transactional web businesses that require professional liability protection for errors in their services or platforms.
Content providers and advertisers that may need combined tech E&O and media liability options.
Accounts that typically need more bespoke terms — large-scale enterprise deployments, insureds with extensive patent exposure, or companies with significant revenue from high-risk data activities — should be submitted for underwriting review; markets available through Preferred Concepts can consider many of these risks but appetite is underwriter-dependent.
Underwriting Notes
Underwriters evaluate scope of services, revenue size, claims history, contractual exposure (including indemnity and warranty wording), and security/data practices.
Media and IP extensions are available on many submissions but are underwritten separately and may be subject to additional limitations or sublimits.
Be prepared to provide a clear description of services, contracts, recent project examples, and any third-party vendor relationships.
Preferred Concepts routinely handles hard-to-place, distressed, and unusual accounts — include detailed submission materials and explain the specific placement challenge.
Territories and Availability
This Technology program is available through Preferred Concepts in the following jurisdictions: AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, DC, WV, WI, WY. Coverage availability, forms, and admitted vs. non-admitted options are subject to carrier and state-specific rules.
Why Work With Preferred Concepts LLC on Technology Accounts
Wholesale broker expertise: Preferred Concepts leverages relationships with specialty carriers to find competitive E&O and media liability solutions.
Experienced underwriting intake: We know which markets prefer which tech classes and can guide you on presentation to reduce time to quote.
Flexible service: From standard placements to hard-to-place or distressed risks, Preferred Concepts can route submissions to appropriate markets and provide placement support.
Carrier access: Various carriers are available through the program; Preferred Concepts will match submission characteristics to the best available markets.
Example submissions
You might have a mid-size software developer that needs primary tech E&O with an optional media/IP endorsement after a client dispute over code reuse.
Or an online marketplace that wants professional liability for transactional services plus vendor due-diligence support — Preferred Concepts can submit to markets that consider bundled solutions.
More information: For program details, application forms, and market availability, contact Preferred Concepts' wholesale placement team. The original program materials reference Mercator Risk Services for certain technology professional liability offerings — see their web resources for additional product detail:
[email protected] and www.mercatorpro.com.
Frequently Asked Questions
What types of technology accounts fit this program?The program is aimed at developers of technology (software houses, web developers, systems and security consultants) and a broad range of technology users (e-commerce, advertisers, content providers). Small to mid-sized firms are the best fit; larger or highly specialized accounts can be submitted for review.
Does the program provide media or intellectual property coverage?Media and IP exposures are common in technology placements. Many markets available through Preferred Concepts can add media/IP coverage or offer separate endorsements, but acceptance and terms are carrier-dependent and require underwriting review.
What should I include with a submission?Provide a clear description of services offered, revenue by service line, sample contracts, claims history, and information about security/data practices. For hard-to-place risks, include specifics on the placement challenge and any prior carrier decline or loss details.
Are hard-to-place or distressed technology accounts accepted?Yes. Preferred Concepts routinely handles hard-to-place, distressed, and unusual accounts and will route them to specialty markets that consider elevated risks. Early communication on the issue helps target the right market.
Which states are supported?The program is available in AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, DC, WV, WI, WY. Coverage specifics may vary by state and carrier.
Need help placing an account? Connect with a market specialist.