What is Tech E&O insurance?
Tech E&O insurance, or Technology Errors and Omissions insurance, is a type of professional liability insurance designed to protect technology companies and professionals from legal claims and lawsuits arising from errors, omissions, or negligence in the services or products they provide.
Tech E&O insurance covers a wide range of potential risks, including:
- Claims of intellectual property infringement
- Failure to deliver promised services
- Data breaches
- Other technology-related errors or omissions.
What is Covered by Tech E&O Insurance?
Tech E&O insurance can provide financial protection for:
- Legal fees
- Settlements,
- Judgments that may arise from these types of claims
Read More: What Is Covered by Technology Errors & Omissions Insurance?
This type of insurance is particularly important for technology companies that work with sensitive data or provide critical services, as the consequences of a mistake can be significant and costly. It can also help protect a company’s reputation and give clients peace of mind that they are working with a trustworthy and responsible provider.