Data Warehousing Conference

Technology errors and omissions insurance provides protection in the event a client holds you or your company responsible for a programming error, failure of software to perform, or your failure to perform as promised by a contract. E & O insurance provides coverage for legal defense costs in the event your business is sued regardless if the lawsuit is frivolous or not. It will also pay for any resulting judgments against you including court cost, up to your policy’s limit of liability.
No matter how careful you and your employees maybe there is will always be a chance there will be a disgruntled client, or a mistake may be made. Technology errors and omissions has become a necessary part of the IT industry’s insurance coverage. If a client perceives that they have suffered an economic loss due to a service you provided you could be facing a lawsuit.
In today’s litigious climate one lawsuit could be the end of your company. Having technology errors and omissions coverage could be the difference between your business continuing to grow or having to close its doors. And if you are not working alone and have employees that depend on your for a job you could be putting other people out of work should you be sued and not able to pay defense costs. Find an insurance agent that is both familiar with your industry and commercial insurance to help you find appropriate coverage.