Keep Your Insured’s Business Protected with Technology E&O Coverage
Peter Mulville
2nd Vice President, Director of Production – Wayne Office
SHARE:
WHAT IS TECHNOLOGY E&O?
Technology Errors & Omissions (E&O), often referred to as tech E&O, is a specialized form of liability coverage designed to protect technology companies/professionals from lawsuits arising from errors or omissions in the services they provide. This type of insurance is particularly vital in the fast-paced and complex world of technology, where even small mistakes or oversights can lead to significant financial damages. Tech E&O policies typically cover legal expenses, court costs, and damages awarded in lawsuits related to professional negligence, failure to perform services as promised, or inaccurate advice or recommendations. It provides peace of mind for tech companies and professionals, allowing them to focus on innovation and growth without the constant fear of litigation looming over their operations
WHAT ARE THE KEY COVERAGES?
- Can combine the Tech E&O, Miscellaneous E&O, Technology Products, General Liability, and Cyber Liability (1st & 3rd party) on one policy
- Matching an applicable retroactive date as well as potentially offering full prior acts
- Contingent BI/PD
- Defense outside the limit
- Risk management services
- Breach of contract
- Broad definition of professional services
- Products and Services coverage
WHAT IS NEEDED TO QUOTE?
- A fully completed new business application
- If the insured has prior coverage, we will also require loss runs and the expiring declarations page
WHAT CLASSES OF BUSINESS HAVE WE HAD SUCCESS WITH?
- Managed Service Providers
- Software Developers/Engineers
- IT Staffing
- SaaS
- Digital Healthcare/Telemedicine
- IT Consulting
- Cloud Providers
- Application Development
- Hardware Repairs Services
- FinTech
- Cybersecurity
- Data Management
- Web Developer
- Graphic design
- Payment processor
WHAT MARKETS ARE AVAILABLE?
- USLI
- CFC
- Admiral
- At-Bay
- Allied World
- Beazley
- Chubb
- Coalition
- Corvus
- Hiscox
- Kinsale
- Markel
- New Dawn
- TmHCC
- Travelers
- Axis
- Starr
Apogee can offer Tech E&O quotes with minimum premiums as low as $950 for $1M limits! You can quote Tech E&O by using our online e-applications via our website or quote instantly over the phone by calling 888.845.1637!