Technology Insurance Products
TechInsurance offers a wide variety of insurance products to protect your business,
your employees, and your personal assets. We've outlined the most requested policy
types to help you quickly assess your needs. We invite you to select from the policy
types below and read more about the various coverage options and uses.
Errors and Omissions Insurance, also called E&O coverage, protects your small
business against claims that your negligence or work you completed led to a financial
loss. In other words, it protects you in case that an error or omission on your
part leads to a measurable loss for one of your customers or clients. Today, an
increasing number of insurance carriers offer E&O Insurance, and these policies
can be customized to protect you against the specific risks you face in your business
operations. Learn more about our Errors and Omissions
A Certificate of Liability Insurance is a document that identifies the key features
of an insurance policy, including start and expiration dates, terms of coverage,
covered parties (including primary insured parties and those with "additional insured"
status), and policy limits. These certificates are frequently used as evidence of
insurance coverage in lieu of an entire insurance policy because they present crucial
coverage information in a condensed format. Learn more about Certificates of Liability
Commercial General Liability (CGL) is probably the most common business liability
coverage. General Liability coverage responds to claims of bodily injury (someone
comes into your office and slips and falls, or you go to a client's location and
physically injure someone) and claims of property damage (you knock a vase off a
desk during a client meeting). These policies typically also respond to claims of
personal injury (including slander or libel), and advertising injury. General Liability
can usually be purchased alone or in a package with Property coverage, Hired
and Non-owned Auto Liability, and Umbrella or Excess Liability. Learn more about
Commercial General Liability Insurance coverage.
Professional Liability can include basic technology errors and omissions coverage
or can be broadened to cover claims of software copyright infringement or even cyber
liability. Professional Liability coverage is available from more insurance companies
than ever and it is possible to customize a policy to address your specific risks.
Essentially, these polices protect you if a client alleges that your company's professional
negligence caused them to suffer a financial loss. Learn more about our Professional
Liability Insurance coverage.
Sometimes, tech companies need a little extra risk protection based on the specific
work they do. For more information about business interruption, D&O, commercial
auto, EPLI, Property Insurance, and more, visit our Additional Insurance Offerings
Packaged Coverage at Discount Rate
- with The Business Owner's Policy
Often purchased as part of a Technology Professional Liability policy, Cyber Liability
coverage is designed to protect IT businesses against liability and expenses arising
from the theft or loss of data, as well as liability and expenses arising from a
breach of data security or privacy, particularly when you are hosting client information.
While your clients should carry their own Cyber Liability Insurance for the data
and personally identifiable or confidential information stored on their servers,
IT firms are wise to protect themselves with their own third-party coverage as well.
Learn more about our
Cyber Liability / Data Breach Insurance coverage options.
Often required when you have clients in banking or financial services, third-party
Employee Dishonesty provides coverage when an employee steals money, equipment,
or other assets from one of your clients. This may include theft of money by electronic
funds transfer. (First-party fidelity covers your property but is applied for separately.)
Learn more about our Fidelity and Commercial Dishonesty
In many states, if you have any employees, you are required to cover them under
a Workers' Compensation policy. Workers' Compensation has two coverage areas: 1)
medical and disability coverage for on-the-job injuries or work-related illness,
and 2) coverage for your liability if an employee is injured on the job and alleges
that your negligence contributed to the injury or illness (Employer's Liability).
In many states, sole proprietors and company principals such as owners, officers,
and partners can exclude themselves from Workers' Compensation coverage. Learn more
Workers' Compensation Insurance coverage.
A popular policy among small IT businesses, the Business Owner's Policy (BOP) lets
IT professionals save money by offering Property Insurance and General Liability
Insurance as a packaged deal at a discount rate. The BOP is an affordable option
for many small-business owners and offers protection from third-party liability,
property damage, and even business interruption. Learn more about Business Owner's Policies.