IT business insurance

Technology insurance

Whether you’re an independent consultant or you run a tech firm of 20, if you’re an IT professional, you’ve got vulnerabilities.

A glitch, or a bug, may not be your fault. But if a client claims you made a mistake and it’s cost them, you’ll need the right back-up.

• Why do IT professionals need errors and omissions insurance?

  It’s simple, really. If you’re a professional you can be sued for professional negligence. Whether you made a mistake, or left something out, or not.

  Problem is, negligence claims aren’t just expensive to fix, they risk your reputation. And that can harm your business.

  Technology errors and omissions insurance (E&O, for short) is your best back up. Also called professional liability insurance, it’s designed to cater specifically for the kind of claims tech-folk face, like:

  • Supplying hardware, or software
  • Use of third-party content (videos, music, or images, for example)
  • Negligent virus transfer

  If you find yourself facing a claim, it can hire you an attorney and cover your legal defense costs. Plus compensation, too, if you’re liable.

  Tech E&O insurance. Think of it as your financial firewall.

• Which IT professions do we insure?

  • App developers
  • App service providers
  • Business analysts
  • Computer consultants
  • Computer modelling and data analysis service providers
  • Computer programmers
  • Computer system/network developers
  • Control systems integration/automation
  • Database designers
  • Information security consultants
  • IT consultants
  • IT project managers
  • IT software/hardware training service providers
  • Process servers
  • Software consultants
  • Software developers
  • Value added resellers of computer hardware
  • Web developers
  • Website designers

• What does our errors and omissions insurance for IT cover?

  • Professional negligence claims – actual, or alleged
  • Claims arising from work you’ve done in the past
  • Legal defense costs including hiring an attorney, if you need one
  • Damages, if you’re found at fault
  • Claims made worldwide – so long as they’re filed in the United States, a U.S. territory, or Canada.

• What other business insurance do IT professionals need?

  • General liability insurance – Is your office is open to the public? Do you work at your clients’ premises? Then you need this coverage. It protects you from claims made for physical damage to property and people. As well as slander and libel claims.
  • Cyber liability insurance – it can’t stop an attack. But it can give you the financial help to recover from one.
  • Business personal property insurance – covers the moveable things in your office - from your furniture to your potted plants. It also covers laptops and cells when you’re out and about on business.
  • Workers’ compensation insurance – protects your business from crippling workplace injury claims. Most states require you to have it. Even if you only have one employee.
  • Directors’ and officers’ insurance – protects your personal assets. Because being on the board shouldn’t mean putting your savings and home at risk.

  We get that any two consultants might be considered IT professionals. And both might work with technology. But the risks they face could be completely different.

  So we’ll build coverage to suit your particular IT business needs. In just a few minutes.