Technology E&O Insurance

Technology Errors and Omissions Insurance

Technology E&O insurance applies when a company makes a mistake or is negligent in providing their tech service, which causes financial harm to a customer. These errors can range from missing project deadlines to recommending inappropriate technology.

Best for companies that provide:

  • Technology products and services
  • Software
  • Data storage
  • website design

It can help cover your business if clients sue you for:

  • Providing a specific part that eventually fails due to a computer manufacturer
  • Selling a product that isn’t compatible with their older computers, causing them to crash.
  • recommending inappropriate technology
  • failing to meet project deadlines.
  • Errors or oversights
  • Undelivered services
  • Budget overruns
  • Incomplete work
  • Breach of contract
  • Poor advice

Technology E&O insurance will pay for:

  • Legal expenses
  • Attorney’s fees
  • Court costs
  • Money paid to settle a lawsuit
  • Legal judgments (what a judge or jury orders you to pay)
  • Related costs, such as court and expert witness fees

Difference between Cyber and Technology E&O

Technology E&O Cyber Insurance
Responds to a failure of a service/product and covers their business in case of professional mistakes Responds to a data breach or cyber incident for businesses that use technology