What is Technology Company Insurance?

Technology Firm Insurance is a combination of different business insurance designed to respond to the particular risk management needs of tech companies, helping to protect your facilities, your employees and your business from disruption.

Different types of coverage for Technology Company Insurance

General liability insurance can protect your technology business from lawsuits for bodily injury or property damage.

Commercial property insurance covers the place where you do business and the tools you use, like computer equipment and office furniture.

Business income insurance, helps replace lost income if you can’t run your business because of covered property damage, like a fire.

Some other coverages you must consider 

A) Errors and omissions insurance

Errors and omissions insurance, also called professional liability insurance, protects your tech company when a client sues over a mistake or oversight – whether or not it was your fault.

B) Cyber liability insurance

Cyber liability insurance pays for legal expenses, credit monitoring services, and other recovery costs if a data breach or cyberattack affects your company or your clients.

C) Workers’ compensation insurance

Workers’ comp covers medical costs for work injuries and illnesses. Almost every state requires employers to carry this policy.

D) Fidelity bonds

Fidelity bonds protect your tech company from financial loss if an employee commits fraud, theft, or forgery against a client or your business. They are often required by client contracts.

What is the importance of Technology Company Insurance?

Technology firm owners should never underestimate the importance of technology insurance. It is an important protection for any business and will help them focus on growth without worrying about bumps in the road or financial concerns that come with it. To learn more, contact us today!

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