E&O / Professional liability insurance
A rider is an insurance modification that adds extra protection to a policy and enables businesses to customize it to their specific needs.
An insurance renewal is the end of the term of your policy, at which point, you'll need to determine if you'd like to continue under the same policy with the same insurance carrier.
Clients could accuse your tech company of professional negligence if you fail to provide a service or meet their expectations.
The retroactive date is the earliest point in time that your insurance policy will cover an incident or dispute. It's sometimes called the retro date or retroactive date of inception.
Prior acts coverage, also known as nose coverage, offers protection from events that occurred before your existing policy was purchased, up to a particular retroactive date.
Business insurance is designed to protect your company against insurable risk, or the likelihood of a loss. But it's important to understand that even the most comprehensive insurance policies don't cover every type of risk.
An expiration date is the day your insurance policy lapses. Your insurance coverage will typically end at midnight on your policy's expiration date.
Want your insurer in your corner? A duty to defend policy makes it an insurer's obligation to provide legal defense for a lawsuit, instead of just compensating you for the claim.
Data breaches that expose sensitive digital assets can cause expensive lawsuits. Learn the difference between first-party and third-party cyber liability insurance and how these policies can help your business handle cybercrime.
A duty to defend clause in your liability policy means your insurance company must work out the details of your legal defense.
Both general liability and professional liability are types of liability insurance that cover the business risks faced by small technology and IT businesses. They differ in the types of liabilities they insure against.
Technology errors and omissions insurance (tech E&O) covers providers of technology products or services when they are accused of negligence, mistakes, or oversights. It also covers data breaches that affect a tech business's or client's operations.
Learn how to manage your clients' expectations and how to avoid any potential problems that may arise while consulting.
Technology errors and omissions insurance (tech E&O) and cyber insurance are two forms of protection against cyberattacks for small businesses. While tech E&O focuses on cybersecurity errors that harm your clients, cyber insurance offers financial coverage for breaches that directly affect your business.
Detecting a data breach is key to mitigating damage and preventing future breaches and cyberattacks.
