Mistakes in a database can lead to lost profits for a client – and a lawsuit for a database administration company. Business insurance can cover client lawsuits, injuries, property damage, data breaches, and other potential risks.
General liability insurance covers the most common business lawsuits. It's often required in data administration contracts and commercial property leases.
E&O, also called professional liability insurance, covers legal costs when a client disputes the quality of your work. Intellectual property (IP) and media liability coverage can often be added.
This policy covers the cost of recovering from a data breach or cyberattack. It can also pay your legal costs from lawsuits filed by affected clients.
A BOP bundles general liability and commercial property insurance at a discount. Small database administration companies are usually eligible.
If your database administration business has employees, you'll probably need to purchase this policy to comply with state law. It covers work injuries and illnesses.
A fidelity bond protects your database administration business if one of your employees steals from a client. It’s also called an employee dishonesty bond.
A lawsuit or data breach can devastate your database administration business. Prevent financial losses with policies tailored for your needs.