Technology E&O policies are designed to cover financial loss to clients as a result of errors or omissions in the services or products they are provided. In many instances, media content and network security breaches may also be covered. NorthStar Insurance Agency offers a range of programs for technology firms. They protect against exposure faced by many positions such as data processing services, IT staffing, and website designers.
Tailored to specifically address the unique exposures experienced by technology companies, technology errors and omissions policies protect a firm’s revenue generation mechanisms. For example, many companies have website designers on staff. Their job is to work solely on their employer’s website, so they would not necessarily need policy coverage. However, if the bulk of the firm’s revenue comes from designing websites for their clients, a technology E&O policy is appropriate.
For consulting firms, software development shops and data companies, the E&O package may cover extortion threats, crises management expenses and business interruption. Risk management solutions help mitigate and transfer risk with industry-specific products customized to respond to their clients’ risk profiles. Cyber liability policies provide coverage in the event a data breach occurs and compromises client data. NorthStar Insurance Agency has insurance solutions created to address the challenges and emerging risks that the technology industry faces.