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.
Errors and Omissions Insurance
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.
Learn more about our Errors and Omissions policy options.
General Liability Insurance
Commercial General Liability (CGL) is 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 our Commercial General Liability Insurance coverage.
Professional Liability Insurance
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. 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.
Cyber Liability / Data Breach Insurance
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 Fidelity Bond, aka Employee Dishonesty Bond, 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 Bond options.
Workers' Compensation Insurance
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 about our Workers' Compensation Insurance coverage.
Bundled Insurance Package: Business Owner's Policy (BOP)
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.
Certificates of Liability Insurance
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 Insurance.
Additional insurance offerings
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 page.