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  1. #1
    Join Date
    Feb 2004
    Location
    Merville BC
    Posts
    608

    * Cannot get insurance

    We have been expanding our company lately, and now have space in a local mall. We offer most computer services, including hosting. So, now we need insurance.

    We have been told that we cannot be in the business of hosting as there is too high a liability in case of data loss and the chance of being sued over it.

    I am baffled by this, and am wondering if anyone else has been told this?
    Three out of four people make up 75 percent of the population

  2. #2
    Yep - we had the same in the UK.

    As far as the insurance company is concerned - we are an 'IT company'.

    Simon

  3. #3
    Join Date
    Aug 2004
    Posts
    1,461
    Same here in Germany

  4. #4
    Join Date
    Jul 2002
    Location
    Austin, TX
    Posts
    1,100
    Have you checked out other companies or searched for IT based insurance?

    I know that most companies don't accept IT based companies, however, I have heard quite a few people mention on this board that they were able to acquire insurance. Hopefully some of them will respond with more information for you.
    HostGator.com - A worldwide leader in Shared, Reseller, VPS and Dedicated Server Hosting.

  5. #5
    Join Date
    Feb 2004
    Location
    Merville BC
    Posts
    608
    My partner has been searching for over a week and has found nothing.

    I hope someone can make a recommendation.

    I should also mention we are located in Canada.
    Three out of four people make up 75 percent of the population

  6. #6
    Join Date
    Mar 2003
    Location
    Sacramento, CA
    Posts
    71
    http://www.ccbsure.com
    http://www.insurancefortechs.com/
    http://www.Ingenuitycorp.com/1/NetQuote

    Google is your friend. If you look to the right at the paid for sites you tend to get more the commercial type hits.

    Of course you may need to call them and see if they will do non-us companies.

    Hope this helps.
    Jacob Squires , CISSP

    · security assesment, network analysis ·

  7. #7
    Join Date
    Mar 2003
    Location
    Charlotte, NC
    Posts
    2,761
    Call up other Canadian IT businesses and try to find out what they do regarding insurance. If a company turns you down, follow up and see if they know of any other companies that can provide what you need.

  8. #8
    Join Date
    Dec 2003
    Location
    United Kingdom
    Posts
    1,389
    http://www.professionalinsuranceagen..._insurance.htm

    We've been looking at insurance recently - just incase - and found quite a few - most of them in the UK are considering hosting to be under ISP insurance category... quite expensive though. And the forms are endless.... zzzzzZZZzzzZZ

  9. #9
    Join Date
    Feb 2004
    Location
    Merville BC
    Posts
    608
    Lovely .... 1500/year without hosting, 3500 with.
    Three out of four people make up 75 percent of the population

  10. #10
    Join Date
    Aug 2004
    Location
    Earth
    Posts
    8,154
    Originally posted by okanagantech
    Lovely .... 1500/year without hosting, 3500 with.
    Two questions

    1. Are those prices in CDN dollars?
    2. What do you mean by "with and without hosting"?

  11. #11
    Join Date
    Dec 2003
    Location
    United Kingdom
    Posts
    1,389
    Well - when I got a quote from that company - they quoted the same price...

    If your an ISP selling broadband etc its 1500 a year. If you also sell hosting - its 3500 a year and that depends on the number of customers.

    And I live in the UK so assuming it's the same company he got the quote from - its £.

  12. #12
    Join Date
    Feb 2004
    Location
    Merville BC
    Posts
    608
    These prices are in CAD...

    If I drop hosting from my business, I pay 1500/year.

    If I choose to continue to host under Okanagantechs, it shall be 3500/year.

    I am going to simply revert back to our previous hosting company name to remove hosting from my main business.

    I cannot justify 2000 a year for insurance with the income we get from hosting... and I dont want to discontinue providing hosting to my customers, so dropping hosting is not an option.
    Three out of four people make up 75 percent of the population

  13. #13
    Join Date
    Dec 2003
    Location
    United Kingdom
    Posts
    1,389
    I personally don't see you need insurance yet anyway if your yearly income from hosting doesn't justify it...

  14. #14
    Join Date
    Mar 2003
    Location
    Charlotte, NC
    Posts
    2,761
    Is it possible to waive the insurance on the hosting business, and just get it for the rest of your company? The insurance increase for hosting does seem a bit steep - What kind of coverage does that extra $2000 get you?

  15. #15
    Join Date
    Dec 2003
    Location
    New Zealand
    Posts
    1,265
    Heh, thats pathetic.

    You should be able to get insurance, but with a high cost.

  16. #16
    Join Date
    Dec 2003
    Location
    United Kingdom
    Posts
    1,389
    You can - we've already said that.

  17. #17
    Join Date
    Jul 2001
    Location
    Canada
    Posts
    1,284
    Insurance is a rather nebulous word. There are different types of coverage for different thigns within any insurance policy. What is covered and at what level will ultimately determine both availability and cost.

    For example a friend's car insurance costs them a mere $500/year. Why? The combined factors of the age of the car, the type of car, and the fact they have the minimum coverage required by law. My cost is significantly higher but my car is newer, has 2 instead of 4 doors (yes it makes a difference) and has more than the minimum required coverage.

    Without specifics it's hard to compare any insurance offerings.
    "Obsolesence is just a lack of imagination."

  18. #18
    Join Date
    Feb 2004
    Location
    Merville BC
    Posts
    608
    They wont touch us unless we drop it from our advertising. Lawyers apparently can sue no matter what the tos and can even nail the insurance provider ... hence we are forced to rename our hosting product.
    Three out of four people make up 75 percent of the population

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