The importance of technology errors and professional liability insurance

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Article by Bob Roberts.

The importance of technology errors and professional liability insurance – companies.

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If you are a computer consultant or computer services company, you can take a serious risk by opting not to make errors and omissions technology. While you may feel that your current policy covers general liability your company for all exposures and risks that you encounter is a common misconception and must be understood before you realize you made a costly mistake . Although plans do not cover general liability IT companies for general inquiries and injury, all plans have specific exclusions against negligence, programming errors, and various other errors. While these are excluded from a general liability regime, they are covered under contracts of professional liability. Knowing the seriousness of this exposure is extremely important to protect yourself and your business properly.

Technology errors and omissions,

Also known as information technology professional liability coverage, is designed to protect you and your company from lawsuits that could arise if your client holds you responsible for action financial loss associated with programming errors, software performance, or failure to provide the service you promised. Although you can have confidence in the services you provide and the skills you possess as an IT professional, the truth of the matter is in an area as busy as the information technology, you can not be in 10 places at once. For this reason, you can not personally manage all tasks and ensure that it is done to your expectations. With technology errors and omissions, you will not be held financially responsible for your employees or independent contractors, as your coverage will extend to their actions as well.

All commercial insurance agents recommend that the IT professional liability insurance is the basis of the insurance portfolio every IT company. Because computers, networks, software and other aspects of the field tend to be temperamental, there are some situations you may not be able to prevent. Whether you are at fault for negligence or not, e & o coverage will cover judgments, settlements and defense costs arising from a request for E & o or prosecution. Go without this coverage could be a serious risk that the costs, even if you are not guilty of negligence, are quite expensive and add up quickly.

If you are a web hosting company, IT service provider, or you develop and install software for different clients and companies, you should understand the importance of technology errors and omissions insurance. Find a company quality assurance that is not only stable but also affordable and will offer you the limits of coverage you need at the price you can afford. With a number of insurance companies that specialize in professional indemnity plans, you will be able to find a plan with the runners you need and the limits that will give you peace of mind.

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Bob Roberts

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