Tech E&O Explained | Tech Errors and Omissions Insurance
👨‍💻 If you’re a founder or leader of a technology company and curious about what Tech E&O insurance is, you’ve come to the right place.
What is Tech E&O?
Technology Errors and Omissions (E&O) insurance safeguards technology businesses from financial losses due to professional errors or negligence in their services, covering legal costs and damages arising from such claims. It's a crucial protection in the dynamic tech industry. 🛡️
👉 Key Takeaways:
Beyond the Basics - What's Not Covered:
Tech E&O doesn't cover everything. Tech firms must be aware of exclusions and additional policies they may need, like Cyber Liability and General liability coverage.
Why Every Tech Firm Needs General Liability:
✅ Protection against adverse financial consequences
✅ Mitigates risk of user losses due to product or service failure
✅ Critical for preventing revenue loss, especially in tech platforms
✅ Safeguards against potential lawsuits from clients due to service interruptions or financial damages
Cost Factors for Tech E&O:
The cost of tech E&O insurance is based on several factors, including The tech sector you’re in, and the size of your company, usually based on revenue and employee headcount. Your geography, your claim History, and the limit and scope of coverage you purchase.
Smart Purchasing Through Expert Brokers:
Don't go it alone online. Get the right coverage without gaps or overlaps by partnering with an insurance broker who knows tech.
🎯 Choose Expertise. Choose The Coyle Group.
We're not just brokers but business insurance experts with a mission to tailor and customize coverage for tech businesses like yours. Our value proposition? Deep expertise, broad market representation, and a commitment to getting your insurance right.
📞 Contact Us
Looking for expert advice on EPLI or other forms of business insurance? Reach out to us! Our contact information is below.
🌐 Website:thecoylegroup.com
📧 Email: gbcoyle@thecoylegroup.com
📞 Phone: 845-474-2924
📅 To book a call with me, click this link: thecoylegroup.com/book-call/
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#TechCompany #E&OInsurance #TechnologyRisk #ProfessionalLiability #TechStartup #RiskManagement #InsuranceGuide #TechLeaders #TheCoyleGroup #BusinessInsurance
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✍️ Comment Below: Have you experienced a situation where General Liability insurance could have saved your tech business from a financial crisis?