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5 Types of Insurance for Technology Companies

The field of technology is surely a risky one. As easy as technology makes our lives, there is a lot that can go wrong when you are working within the industry. Fortunately for IT professionals, our agency is here to help protect you from the large and small unique risks that threaten your business.

This week, let’s take a look at five major types of insurance that all emerging technology companies should have.

#1: Errors and Omissions: This type of coverage is designed to protect your business against claims that your negligence or professional work led to a financial loss for a customer or client. It is also known as E&O insurance.

#2: Professional Liability: This policy works similar to E&O, broadening the coverage to take care of claims that may include software copyright infringement or cyber liability.

#3: Network Security Liability: This policy is designed to protect your business from losses that are associated with unauthorized access to your data. This may include data theft, breaches, denial of service attacks, computer viruses, unauthorized e-commerce transactions, and more.

#4: Commercial Property: This policy will extend coverage to commercial property on the premises, such as computers, phones, desks, printers, etc. It will protect your property against physical damage by theft, fire, vandalism, and more.

#5: Workers Compensation: This policy is required for most business—no matter the industry. It will protect your employees in the event that they are injured while on the job. It can also protect them from costs that stem from work-related illnesses.

Depending on your unique company, you may be in need of additional coverage—but this is a start! Our agents at Hundley Batts and Associates Insurance Agency are proud to be a resource and provide for emerging technology companies. We represent a wide variety of carriers with industry expertise in risk management and solutions for technology-related enterprises, so you know that you are getting the proper protection from the professionals.

To learn more about this distinct product, please give us a call at 888-458-3974. We would be more than happy to sit down and discuss the needs of your business.