Technology E&O
Align insured products and services with customer contracts and the financial harm a failure could cause.
Technology Companies
Technology Company Insurance.
Technology insurance should connect what your software or service promises with the client losses, data incidents and outages that could follow a failure.
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What we look at.
Cyber response
Review incident response, privacy liability, business interruption and the security conditions attached to coverage.
Platform dependencies
Identify cloud, hosting and other vendors whose failure could interrupt your service or revenue.
Technology Errors and Omissions
Liability arising from the described technology products or services. Align the policy with contract obligations and exclusions.
Cyber Liability
Incident response, liability and selected first-party losses. Review security conditions, business interruption and fraud provisions.
General Liability
Review bodily injury, property damage, products or completed operations, and required additional insured endorsements.
Workers Comp
Review payroll, classifications, work locations and employer's liability. Statutory requirements vary by state and circumstances.
Directors and Officers
Management-related claims against insured individuals or organizations. Review entity coverage, exclusions and transaction provisions.
Employment Practices Liability
Employment-related claims such as discrimination or wrongful termination. Review defense, retention and wage-and-hour restrictions.
Business Property
Office and operating property. Review equipment, portable items and interruption arising from covered damage.
Umbrella
Additional liability limits over scheduled underlying policies. Check exclusions, attachment and whether terms follow the primary coverage.
Questions & answers
Good questions to ask.
How do technology E&O and cyber insurance differ?
Technology E&O addresses covered claims that technology products or services caused financial harm. Cyber coverage addresses specified security, privacy and related losses. One incident can raise both issues, so the policies should be reviewed together.
Does insurance cover every service outage?
No. Review the cause, affected system and loss claimed. Coverage can differ for your own interruption, a provider's failure and a customer's claim, with different waiting periods, exclusions and limits.
Do customer contracts determine what the policy covers?
No. A contract can create obligations beyond the insurance. Compare liability limits, service promises, indemnities and insurance requirements with the actual policy wording before accepting material new terms.
When should a technology company revisit its coverage?
Review new products, expanded services, changes in customer type, sensitive data, major contracts and critical vendors. Funding, acquisitions and growth may also change the management liability review.
From our journal
Related articles.
Industry and coverage references
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