What is Tech E&O Coverage?
Your tech clients are highly susceptible to errors & omissions (E&O) related risks, more so than other industries. Tech products are developed at a rapid pace and require constant updates, patches, and improvements, so these clients are more likely to face E&O claims. Simply put: There’s more room for error.
E&O claims are broad and many clients may not even realize they’re at risk. Examples of claims they may face include:
- Breach of Contract
A tech company may run into delays and miss an important deadline in their contract with a client or the product they agreed to deliver may have a glitch and be unusable.
A tech company may provide a software product that incorrectly handles or exposes the client’s employee information. Or, a calculation error may lead to fines and penalties to the client.
- Copyright Infringement
Small start-up tech companies are especially susceptible to copyright infringement claims related to their software.
Additional claims that clients may face can include breach of warranty, online defamation, misrepresentation, and more.
A Tech E&O Insurance policy will protect them from a broad range of risks that they’re likely to face.
To learn more about Tech E&O coverage, download our FREE eBook, E&O Insurance for Tech Companies: Understanding Client Risk & E&O Coverage.