Information Technology (IT) Insurance
You’re an innovator! You love to spend your time tweaking HTML in order to make your product or design just right. And who doesn’t just love CSS? Not only do you love Information Technology (IT), but you started a business doing it. Like most business owners, you are busy and with your spare time you ponder the risk associated with your trade. Let us help alleviate your concern about the risk your business has with a great Information Technology (IT) insurance policy designed around your business.
Technology Errors & Omissions (E&O) Liability Insurance
Technology E&O Liability Insurance protection provides coverage for claims for economic damage caused because of an error, omission or negligent act.
Example (provided by Travelers Insurance): You design and build labor force software that integrates a client’s HR and payroll systems. You fall behind in delivering your work, resulting in missed milestones and nonfunctioning components. You contend that the client repeatedly changed the size and scope of the project. Ultimately, the client fires you and files a lawsuit, seeking to recover lost profits and extra expenses due to the delay and disruption.
Cyber Liability & Data Breach Coverage
Information Security Liability (ISL) and Breach Essentials protects against claims or suits alleging failure to prevent unauthorized access to, or identity information of others.
Example (provided by Travelers Insurance): Your IT Company was on top of the world when it won the contract to manage the network and security software for the hottest new upscale café chain. The chain’s name was on the rise, and referencing them with business prospects won you additional new business and instant credibility. That is…until a hacker broke through your security software, and the notoriety turned to infamy. Within days, your company is in survival mode. Crisis Management coverage reimburses you for the costs of crisis management consultants and a PR firm to help restore your reputation and keep your business in business.
These examples are illustrative only. In the event of a claim, coverage will be determined based on the facts and circumstances of the filed claim, and the actual policy terms and conditions.
You run a complex business. Let our agents figure out your complex insurance needs easily. As an Independent Insurance Agent, we represent several insurance companies. They can get your IT business an insurance quote and ensure you’re covered.