The Allen Thomas Group Explains the Business Insurance Needs of Artificial Intelligence Companies
August 22, 2023 at 00:18
Akron, Ohio -
The Allen Thomas Group (ATG), a technology lead independent insurance agency based in Akron, OH, recommends that artificial intelligence (AI) companies protect their business with appropriate and tailor-fitted insurance coverage. While AI can provide significant benefits for businesses, it comes with real risks, which is why AI businesses need to look for the appropriate business insurance to protect the company from possible liabilities. ATG can help these businesses in finding the proper coverage for sufficient protection. More about this can be gleaned from their LinkedIn article which can be accessed at https://www.linkedin.com/feed/update/urn:li:activity:7097964108787957761.
Joe Race, CEO of ATG, says, “An increasing number of businesses now realize the need for insurance in their operations. A professional insurance broker like The Allen Thomas Group can help protect a company’s assets, profits, and customer relationships from the risks associated with these rapidly developing technologies. In addition to providing comprehensive coverage, selecting the best AI insurance companies should involve evaluating each firm’s reputation and customer service feedback. It would be best to look for a reputable insurance vendor that provides the best insurance and superior customer service on claims processing and policy renewals.”
It is important to note that choosing a proper insurance provider is only part of the equation when buying an insurance policy for an AI company. Truly comprehending the risks involved in the use of automation and related technology is just as vital in protecting the company’s assets and people. The use of robust security protocols, including ethical compliance standards and encryption strategies, is essential to establishing a secure environment for business operations.
Getting the appropriate insurance for AI companies requires three simple steps. The first step is to evaluate the company's specific needs, and ATG will find the proper policy for that specific business. The second step is to review the results of the search performed by ATG. The third and final step is to get the service. ATG will guide the client step by step with regard to understanding the new policy.
The insurance coverage provided for a specific AI company will have a number of components. These include: general liability insurance for accidents protection; professional liability (E&O) insurance for protection against algorithmic problems; cyber liability insurance for protection against data breaches; tech errors and omissions coverage for tech-specific protection; intellectual property insurance for securing patents and copyrights; product liability insurance for hardware and/or software; directors and officers insurance to safeguard decisions made; employment practices coverage for navigating claims; workers’ compensation insurance for employee injury coverage; business interruption insurance to help overcome any disruptions; commercial property insurance to protect the business’ assets; and data breach coverage to take care of any incidents.
Meanwhile, ATG has been receiving highly positive reviews from customers. On Google, they have an overall rating of 4.9 out of 5 stars. In a recent review, All Points Chimney Service gave them five stars and said, “Joe is great! We do not have a policy with him yet and he was still by far more helpful than everyone else we talked to for our workers comp policy. If it wasn't for him, we would still be lost! Thank you Joe.”
Started in 2003 by Joe Race, The Allen Thomas Group has evolved into a leading provider of risk management and financial solutions for both companies and individuals. Joe Race, who is the CEO of ATG, completed his studies from The University of Akron and then served as an investment advisor in the 1990s. In the course of his work as an investment adviser, he noted that his customers also needed protection for their investments. ATG began by providing insurance solutions customized for the specific needs of clients. At the current time, The Allen Thomas Group provides a comprehensive range of customized business insurance solutions while using a number of insurance carriers to offer the most suitable insurance coverage for customers at a competitive price.
Those who are interested in business insurance for AI companies can visit The Allen Thomas Group website or contact them on the phone. They are open from 9:00 am to 5:00 pm, from Monday to Friday.
For more information about The Allen Thomas Group, contact the company here:
The Allen Thomas Group
453 S High St Ste 101, Akron, OH 44311