Key Coverages for Tech Companies
Often referred to as business liability, general liability protects businesses from general claims that arise out of normal day to day operations. Coverage is considered 3rd party, meaning it protects against injuries and property damage to others. Liability coverage is a must have insurance for tech companies.
Professional Liability (Errors & Omissions)
Often referred to as Errors and Omissions (E&O) Insurance, professional liability helps cover you and your business if you make a mistake in the services provided to a customer. Even if you did not make a mistake but your customer believes you did and sues you, this coverage will help pay for your defense.
We live in a digital world and most businesses, even those traditionally considered “offline” continue to have an increasing digital footprint. Technology brings incredible capabilities to our fingertips. Unfortunately, it also brings additional risk. Cyber coverage has become increasingly popular to mitigate the impact of data breaches, downed computers and networks and the losses that result.
Also referred to as commercial auto, business auto can be very straightforward (insuring vehicles your company owns) but also confusing (i.e. using personal vehicles for business). While many of the coverages are similar to that on a personal auto policy, the limits and conditions can be very different and may vary based on the use of the vehicle.