Software Design/International Laibility?

Discussion in 'P&C Insurance Forum' started by Jcarpenter, Jan 29, 2015.

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  1. Jcarpenter
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    Jcarpenter New Member

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    Hello all,

    I have a prospective client that I am hoping someone on here will be able to offer some advice on. My client has designed a software program that is used to control the movement of CNC machines. They build the hardware necessary for the operation of this software ultimately resulting in a "computer" that is plugged into the CNC machine and used to control the machining of a product to required specifications. This completed product(software program) is sold internationally which brings up a concern for their international exposure. Most GL policies will provide coverage in the event of a products liability claim brought against insured when product is sold internationally only if the suit is brought in the specified coverage territory. What happens in the event my insured is involved in a suit in a territory not in the specified coverage territory? Is there a company that you know will provide a true International coverage territory? What companies have you had success placing this type of risk?

    Any advice will be greatly appreciated! :)
     
  2. djs
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    djs Super Moderator Moderator

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    I doubt this will be a standard policy, especially given the risk as soon as you interface to a CNC machine.

    Its an interesting question.... wish I could help with an answer.
     
  3. XdateNotSexDate
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    XdateNotSexDate Well-Known Member

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    Not that I have much experience with a risk like this, but I know it's slim pickings for markets- Chubb, Hartford(maybe?), Travelers, Zurich, Chartis. All I can think of with international capability.
     
  4. EugeneM
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    EugeneM Well-Known Member

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    what comes to mind is lloyds
     
  5. SuperNewbie
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    SuperNewbie Active Member

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    Hannover, AIG, ACE,... look for companies that already have international exposure.
     
  6. LA_Exec
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    LA_Exec Member

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    I second that. The risk seems to have more exposure that what some standard markets would underwrite.
     

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