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a division of TRT & Associates, Inc. 
Technology Insurance
Loss Scenarios for IT Firms
  Jury award for compensatory damages.
When a software solutions provider fails to live up to performance commitments made via a contract for a new software system, a local jury awards the plaintiff in excess of $2 million in compensatory damages.
Indemnity Paid: $2,400,000
Defense Cost Paid: $345,000

What’s special about InsureCast?

  • You work directly with principals and receive personal attention
  • Well-established company, in business since 1895, not a fly-by-night company
  • Experience in handling the special needs of technology companies (network security, hacker protection, viruses)
  • InsureCast represents virtually every A-Rated carrier with specialty products for technology businesses so we can market your account aggressively and secure the best pricing available

Who is InsureCast?

InsureCast is a division of TRT, Inc., a NY based insurance agency tracing its roots through 4 generations of family, and incorporated in 1895.

Our customers range from start-ups to public companies. We serve about four thousand clients nationally and throughout the world. InsureCast's marketing territory is national in scope, and we hold property-casualty and life-health licenses in all states except Alaska, Hawaii, Iowa, North Dakota, Oklahoma, and West Virginia. We are dedicated to giving excellent service to all our clients and continue our 117 years of providing business and professional liability insurance. More...


Professional Liability Insurance for Tech, Software, Internet, IT and Biotech Firms

Today, even the most cautious business owner may be subject to an errors and omissions lawsuit at some point. Mistakes Happen. Every company is at risk at some point. That’s why choosing the proper insurance coverage — from the right professional liability insurance company — is the most important decision you will make to protect your business and your professional reputation. InsureCast, a division of TRT, Inc. provides a wide range of professional liability insurance products to the technology and IT industry:
Professional Liability Insurance (E&O)
Cyber Internet Liability Insurance
Media Liability Insurance
Network Security Insurance
Directors & Officers Insurance
Employment Practices Liability Insurance
Fidelity Crime Insurance
Fiduciary Liability Insurance
Group Personal Excess Liability Insurance
Intellectual Property Insurance
Kidnap/Ransom Insurance
Workplace Violance Insurance

We Write Professional Liability Insurance for Medium and Large Companies Only

If your projected revenues are between $1,000,000 and $100,000,000, and a minimum of 10 employees, then we want talk to you. We have found that we are really competitive in this segment and larger companies appreciate the value added service, as well as our experience in the technology sector.

Welcome to Our Blog

Can CBD Oil Use Be Covered by Insurance?

CBD Oil Insurance
By Maria Neubauer Posted 27th Sep 2018

CBD oil or Cannabidiol has been quietly known around the world as a cure for most common diseases. It has components of 113 chemical compounds found in marijuana, but these have proven to be the most non-psychoactive components of it. Due to the proven medical effects of CBD oil, these have been legally sold in some countries. CBD oil has been known for the treatment of various types of cancer, including colorectal, lung, and breast cancer. It is even considered by advocates as a miracle medicine.

Does health insurance cover CBD products? For now, it is available, but it is scarce.  There have been debates that have been going on for decades on adding CBD products in health insurance plans, yet it raises controversies every time. The major reason why CBD products are not covered by health insurance is that it is not approved as a medicine by the FDA or the Food and Drug Administration.

One of the known insurance companies that cover CBD treatment is Sunlife Financial Canada. This is the effect of legalizing medical cannabis in the country. Sun Life announced last early this year that the employer can be allowed to add CBD treatment options in the group benefit plans. The coverage ranges from $1500 - $6000 per year for each person. 

In most of the countries, for patients dependent on the CBD treatments will have to take money out of their own pockets to pay for medication. CBD has a biphasic effect on sleep, the effect may depend on the dosage taken by the patient.  Disregarding the different studies and individual testimonies about the advantages of medicinal cannabis, there is yet an absence of firm clinical reports. Patients prefer CBD treatment since, unlike traditional medicine, the CBD effect is immediate and are proven to have no side effects or withdrawal syndromes. With no psychoactive effects and a lot of health benefits, CBD treatment is a win-win for patients.

Despite the effect of CBD oil in treating illnesses some government is still not supporting its use. In spite of this, however, CBD is generally accessible over the counter in dispensaries in the states where pot is legal. It is also hard for the insurance companies to cover this since the government itself lacks support. It might be also risky on the part of the government to legalize these type of product as some might abuse its use.  This has not deterred its advocates, however, who have been increasingly working for its legalization.

As it looks at this moment, the long-haul fate of weed lawfulness is still dreary, in any event on the government level. Things are clearly on the uptrend inside individual states yet weed change activists are yet treading water regarding attempting to get the Feds to recognize our darling cannabis. Hopes are still up for those who are dependent on CBD treatment that time will come insurance will cover their treatment. It will be a positive change for the low-income patients.



NJ Flooding Causes Insurance to Expand

Home Insurance
By Maria Neubauer Posted 10th Sep 2018

A strong storm flooded Robert Ferris's house in Greenbriar Senior Living Community, Brick, New Jersey in three inches of water. Over two hundred houses in Brick got damaged. A few houses in Howell were also affected. Freakish storms now happen regularly. Homeowners should now consider adding another layer of protection. Flood insurance should be the biggest consideration.

The damage done on Ferris's home was still considered tame. However, rescuers still needed to rescue his neighbors using boats. This kind of flooding has not happened since hurricane Sandy in 2012, and that was six years ago.

The homeowners who were affected face the possibility of repairing their home and paying as much as thousands of dollars.  Though most insurances cover pipe bursts or flooding in the kitchen, the policies do not usually include flooding from hurricanes or storms.  Not many homeowners have flood insurance included in the cheapest home insurance policies simply because it does not happen at all. They said that they were offered flood insurance but they chose not to get. They also reasoned that their houses were not in flood-prone areas as indicated by the Federal Emergency Management Agency, a federal agency that creates hazard maps to indicate flood risk areas.

Ferris had to see his home slowly being swallowed up by water. He stated that he blames the newly constructed Garden State Parkway for the flooding in his neighborhood. Ferris said that the parkway's interchange for funneling caused the rainwater to run off down to his neighborhood.   As a result, a few state assemblymen asked the Department of Transportation of the state to look into this possibility. 

With the threat of stronger storms looming in the horizon and the allegedly bad highway planning and engineering, the homeowners are starting to get desperate. The frequency of freak storms are growing, and one of the causes of such anomaly is climate change.

The warmer the air is, the more water vapor it can hold. This means that extreme rainfall can happen anytime. There is also a higher chance of early morning showers.

The homeowners are encouraged to take into account the changes in the climate and add extra protection such as insurance policies that cover natural calamities.

Not being in the flood risk zone is not an assurance anymore and people are now looking at getting policies for their homes. The insurance price for homes that are not in the flood zones is not as high.

Those that are not in flood risk zones can choose to have the preferred risk insurances. Preferred actually loosely means affordable. You can a $344 insurance that will cover your whole property. Cheaper policies can be bought for about $100 yearly if the $300 is a bit too painful for the pocket.

For Frank Valente, an insurance agent, an insurance policy that costs a little over $500 dollars is actually great. He says that people 's interest in flood insurance naturally increased and expanded after hurricane Sandy last October 2012. Although the memory of the disaster is naturally fading, Valente says that it has become his duty to remind everyone to be cautious. He also says that most agents will probably say the same thing. A simple flood can ruin everything you have invested in, including your house.

Now, insurance apps are expanding simply because it is easier to access. It also is not as overwhelming as having someone talking to you about policies. Plus, you have the advantage of checking the details of your insurance anytime and anywhere as long as you have a phone or tablet with you.



Purchasing a Trip Insurance to Cover an Award Redeposit Fee

Travel Insurance
By Maria Neubauer Posted 3rd Sep 2018

When it comes to travel insurances, are award tickets or airline miles covered? If so, how does this work?  First of all, if you are planning to get an insurance to get its rewards and benefits, keep in mind that every trip insurance provider has its own policies.

For instance, airlines such as American Airlines offers an insurance policy that they call the AAdvantage. For just $13, airline fees like trip cancellation, trip interruption, and travel and baggage delays, will already be covered. Plus, redeposit fees are also included. You can also get the Trip Protector Select. Its coverage includes medical and dental emergencies and travel and baggage delays for just $24 per day for each individual. Incidentally, frequent flyer or airline miles are not covered by most trip insurance policies.  On the same note, selling airline miles is also not encouraged by airline companies although there are some mileage broker sites, like here, that are willing to buy them from you.  Some frequent travelers can opt to sell their mileage awards to finance their trip insurance. 

You can choose whatever you deem is acceptable for you and your budget as there are several other insurance policies out there, too. However, the problem with these basic policies is that they only provide minimal coverage.

So, yes, you can purchase a trip insurance to cover an award redeposit fee, but it is not a guarantee that all insurance providers will have this. That is why you definitely have to go back and forth when searching what is ideal for you. If you are not familiar with how this works, it would definitely help if you start practicing estimations as well.

To put it simply, start by calculating your total flight expenses and adjusting it according to the offers given by the insurance provider. Doing this will narrow down your list of policies and allow you to pick what works for you and what does not.

However, before you decide on an insurance policy, be mindful that most of these trip insurances do not have a detailed list of eligible cancellation or interruption causes. You are not necessarily encouraged to abandon the idea of getting an insurance, however. It is just that you have to know what causes are eligible so that you will not end up regretting the decision to get such a policy.

Without knowing the specifics, there is a high chance that you will never get your award redeposit fee. So, never speculate when booking for a flight, especially when you are already set on getting an insurance without meticulously understanding its scope beforehand.

For most of the individuals who are new to this, it is easy to get persuaded into getting the wrong insurance. In fact, many do not even realize that they are paying more with an insurance versus not having one at all. It is not about trip insurances posing as scams. It is the laxity of the person buying the insurance and his inability to know the total package of an insurance policy.

As long as you are eligible and you know the coverage, you can certainly use your trip insurance for cancellations and the like. Trip insurances should not be deemed as unnecessary as it comes with a lot of advantages. At the end of the day, it is all about you, so find some time to contemplate for a bit and weigh things down. Do you really need one right now? How often do you travel and book a flight? Will this be beneficial to you in the long run? Knowing what you really want from a trip insurance will not only save you money but time and effort as well.



How important is Insurance for your Binary Options?

Binary Options
By Maria Neubauer Posted 30th Aug 2018

We all know how insurance works, but have you taken a moment to consider the possibility of safe guarding you binary options? If not, then let's delve into the details and find out why this could be the best technology insurance decision you could make.

Paying insurance on everyday items like our health, our cars or our homes is common practice. This is done because it provides the safety net needed for when things go wrong with the risks that life regularly delivers. This same concept can directly be applied to your binary options trading too. The principal of trading binary comes down to a trade based on an assumption of the market. A trader would assess this assumption and decide the likelihood of it eventuating followed by a shift trade. On the flip side, any trader who has read binary options for beginners would know that if they believe the assumption to be incorrect, they would sell.

However, where the waters become murky is when dealing with regulated or non-regulated brokers. A key difference between the two is the insurance on offer.

Enter Binary Options Funds Insurance

Started by the Investor Compensation Fund for Customers of Cypriot Investment Firms, this Binary Options Fund was started to protect investors. "The Fund" as it's more commonly known only applies for regulated brokers and is place for when things go terribly wrong. Namely, when a broker cannot meet their debts and they owe their clients' money, this fund comes into play. The fund covers up to 20,000 Euros and is designed to be used for repaying client debts of the broker.

Broker Regulation

The idea of insurance in Binary Options raises the next issue of finding a broker, in particular, a broker which is regulated or not. The market of Binary Options is only new, and so is the regulation, making this task not as easy as it is in other financial markets. Like aforementioned, brokers which are regulated are covered by "The Fund" leaving those who are rouge out on their own. If an unregulated broker goes under, their clients will most likely lose everything too.

Before committing to a broker, it's important to have a checklist in place. This checklist should include:

  • Whether the broker states if their regulated or not.
  • If they state they are, check if their license is still valid.
  • If it's valid, check the license number with the county's local financial regulator.

Non regulated brokers often show clear signs of their desire to avoid serving their client's long term needs. Urgently requesting a client's initial deposit or moving their practice outside of Cyprus (while remaining unregulated in the new local country) are two common signs.

We are very keen to hear from our reader's experiences with Binary Options insurance and how secure you feel using this new technology. Is it worth funding a regulated broker or are you happy to stick with the risk for the financial rewards of no regulation? Email us your thoughts and we will discuss the feedback in next week's blog.



Price Indemnity and Contingency Insurance: What They Are and Why You Need Them

By Maria Neubauer Posted 9th Aug 2017

To 'insure' is to protect someone against a possible lost. As humans are naturally territorial, we have a tendency to protect what's ours. This is possibly one reason why a lot of people sign up for a wide array of insurance packages. The most common insurance packages that we know are those that cater to individual needs like the Auto Insurance, Health Insurance, Life Insurance, and Property Insurance. However, insurance companies do not only limit themselves to personal coverages. They also have a wide array of Business Insurances that you are probably not aware of.

Businesses, unlike most individuals, tend to hold bigger funds, assets, and liabilities, thus the need to also insure them. Every business needs protection and security to possible damages or lost. The bigger your company is, the more you need to be ready with the unpredictable nature of the industry. There are a lot of insurance products that cater to all types of companies--whether a budding business or an established one.

Prize Indemnity Insurance

Have you ever tried joining raffles, events, or contests? Have you ever wondered how companies who host sporting events manage their funds for prizes? We are often amazed by the cash prizes we see on television and events. We even join contests or raffles whenever the prizes seem so inviting. But how do companies manage their loss whenever these contests, raffles, or sports events do not get their target income? What if the event gets cancelled or postponed? What happens if sponsors don't pay what they are supposed to sponsor?

Prize Indemnity Insurance insures a company's lost whenever they host contests or raffles that cost a car, house, or a major prize. Through these Prize Indemnity Insurance Companies, the host company of such events will be able to guarantee a prize without having to pay for it. This type of Insurance is also called as Hole-in-one Insurance. It was named after Hole-in-one golf tournaments. For you to obtain a prize, you need to secure a shot thru hole-in-one. It is quite impossible to win that shot, thus making lower stakes for the prize.

Prize Indemnity Insurance requires companies to pay out a premium, usually starting at 3% and depends on the stakes of winning. If ever there is a winner for the event hosted by a company, the Prize Indemnity Insurance will pay for the prize. But if ever no one wins the event, the Prize Indemnity Insurance will earn with the premium payed by the company.

Contingency Insurance

Contingency Insurance, on the other hand, provides a big coverage for companies hosting events. When we say 'contingent', nothing is sure. In other words, Contingency Insurance pays for what isn't sure. Whenever something goes beyond the expected, the Contingency Insurance will cover it. It is also a way of risk management for companies in case their plans go wrong. There are unavoidable circumstances that can cause a company to postpone, interrupt, or even cancel events and by these, contingency insurance will be a convenient help.


Being insured is being protected. Since you cannot predict everything, you should be ready to face the unexpected. Insurance companies will help you recover in such situations.


The insurance industry is reeling from 9/11, and tech companies are reeling from a sour economy.

You should know that there are some dramatic insurance changes in the works. First, for business insurance in general, coverages are decreasing and rates are increasing in the wake of 9/11. If your broker has not been in touch with you about how to best manage your professional liability insurance in this market, you can be left in a financially disastrous situation.

Secondly, most brokers who jumped on the technology bandwagon are no longer focused on technology business or have gone out of business. And if you are using a “general” agency, this means you probably aren’t benefiting from specialized knowledge and coverage technology companies need. We provide all forms professional liability insurance including E&O, D&O, and EPLI to technology companies.


Significantly Expand Coverage While Maintaining or Reducing Premium Costs

You might be surprised to hear that over 70% of the time we’ve been able to significantly expand professional liability insurance coverage while maintaining or reducing premium costs – we clearly have a pretty good mouse trap. How about investing 30 minutes to see if your company falls in that 70 % and could in fact do better? Please go to our online CoverageCoach questionnaire to get a free no obligation professional liability insurance quote.
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New Public Company Rules Hit Private Firms
But I Want to Fight, Not Settle Out of Court!
Professional liability insurance for IT Staffing Firms
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Business Risk Management Tips
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Expanding Exclusions and Limitations
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Sufficient Limits Are Key
Overview and Current D and O Market Trends
Insurance Market Overview
Directors and Officers/EPL Market
Why IT Firms need EO?
If Disaster Strikes (PDF)
Why Private Firms should have D and O? (PDF)
Insurance Solutions for Private Companies (PDF)
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