What's in a Tech Insurance Policy?

Technology Errors and Omissions Insurance is what many tech professionals ask us about. But "Tech E&O" is just one component of a solid tech insurance program.

Before we go any further, it helps to know that there's no such thing as a standard commercial insurance policy.

Yes. It's true that most policies are based on standard basic wordings,

But be aware of the fact that, when you go out to get insurance for your business, you'll be presented with different, customized products from different insurance companies, and that each will have their own 'tweaks', not just in the coverage provided, but also in the potentially-dangerous exclusions.

Technology Errors and Omissions Insurance .. and What Else? 

So, with the understanding that the policy details (coverage, extent of coverage, exclusions, etc.) will be different from one insurance company to the next, let's talk about common components of a good "tech insurance policy package".

Our dedicated tech insurance specialists can tailor  insurance coverage and risk management solutions to meet your most challenging business risks, including:

• Professional Liability / Technology Errors and Omissions Insurance ( Tech E&O )
• Technology Services Liability
• Technology Products Liability
• Commercial General Liability (CGL)
  
• Commercial Property – Including, as needed, EDP Property and R & D Property
• Copyright and/or Trademark Infringement Liability
• Network and Information Security Liability
• Reputation Injury and Communication Liability
• Crime / Fidelity bond (employee dishonesty, fraud, theft, forgery, etc.)
• Media Liability Protection
• Business Interruption
• Equipment breakdown
• Commercial Automobile
• Legal expense insurance
• Cyber Liability

... and more.

Good news:  a tech insurance policy is just like a puzzle. 

You can choose which pieces (coverage) to include in your insurance program.

You don’t have to buy all available coverage, especially if you feel you’re low risk in one area or that you have ways to manage the risk (other than transferring it to an insurance company).

Bottom line, when buying insurance for your tech business, you owe it to yourself to make sure your not just 'getting quotes', but actually getting the coverage you need (and avoiding the exclusions you don't want) based on your operations, the industries you serve and your risks exposures.