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    Tech Errors and Omissions (E&O) Insurance

    Errors and omissions insurance is a common type of coverage for business professionals and entrepreneurs. For those in the tech industry, however, specific insurance is needed to help better protect your company.

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    Why You Need Tech E&O Insurance

    Running your own business is hard. It’s not just about providing your products or services to your customers. There are also the fundamental steps of getting your company up and running, finding the right target market for your product, and managing your company finances. As your business grows, you may also need to stay on top of your lease agreement, look into business real estate options, and hire a team of employees.In addition to the above, it’s also extremely important for small business owners to make sure that they have insurance for their company or startup. And for businesses in the tech industry, having the right insurance is essential to helping protect yourself and your company.As a tech professional, there are unique aspects to your products or services when compared to a brick-and-mortar or retail business. The things you sell are often intangible. With insurance designed specifically for your field, you can protect your ideas and intellectual property, along with your digital products or services.

    Commonly Asked Questions

    What you need to know about Tech E&O Insurance

    This type of insurance is a very common policy for business professionals and entrepreneurs in all kinds of fields. It typically covers legal fees and damage awards if a client or third-party sues you for negligence, misrepresentation, or inaccurate advice. E&O insurance protects you and your business from the financial fallout of a professional error or omission, so your company can continue to run in the event of a lawsuit.

    As a common kind of coverage in a wide variety of professional industries, errors and omissions insurance also goes by a few other names. For example, it’s often called professional liability insurance (PLI) as well, since it covers you as a small business owner or entrepreneur if you are sued by a client, even if you are not at fault.

    In certain professions, E&O is also referred to as malpractice insurance. This kind of policy is typically designed for a specific field, such as medical professionals and lawyers. In these instances, it’s common for the insurance product to be called medical malpractice insurance or legal malpractice insurance.

    It is the same idea for tech E&O insurance.

    As a tech professional, specific errors and omissions coverage designed for the owners and operators of tech companies helps protect you from large financial losses.

    In most cases, technology errors and omissions insurance will cover legal and court fees, any settlement payments, and legal judgements. It is an insurance solution that operates similarly to a typical errors and omissions policy. The difference is that this policy covers the complexities of a technology business, as well as products and services that are unique to the industry, such as software and computer hardware.

    Every policy will be different, depending on your insurer. As an example, APOLLO’s Technology Services Insurance is available for a broad range of tech professionals, services, and businesses, including:

    • Computer hardware sales and consulting

    • Computer maintenance and repair

    • Custom software, programming, or application development for others

    • Enterprise resource planning installations

    • General IT consulting, aside from managed services or security specific

    • Hardware infrastructure as a service

    • Online brand management

    • IT network configuration and communication configuration

    • IT project management

    • IT security consulting

    • IT staffing services

    • Packaged software or hardware installations

    • Prepackaged software

    • Subscription-based businesses, offering software as a service (SaaS)

    • Training, teaching, and tutoring services, including hardware and software

    • Video game developers

    • Web development, web graphic design, or digital marketing

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    APOLLO’s Technology Services Insurance

    With our package insurance policy, tech professionals receive a tailored solution designed to cover providers of technology services and products. Specifically, this coverage is for companies that offer:

    • Software

    • Computer hardware

    • Consulting

    • Other data-related services

    This type of tech insurance covers losses resulting from technology products or services, intellectual property infringement, media content, and network security data breaches.

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    APOLLO Insurance Agency Ltd. (o/a APOLLO Brokerage in the province of Ontario only) is a licensed retail brokerage, offering our clients with a comprehensive set of insurance solutions to meet their individual needs. APOLLO Insurance Agency Ltd. maintains necessary corporate licensing in provinces across Canada. Availability of products and service depends on licensing and product availability. The information that appears on this page is provided for information purposes only. Advertised products and prices are not guaranteed and vary based on insurance provider and/or insurance company's discretion and product availability.

    Transparency and Disclosure: APOLLO Insurance Agency's role is to provide you with exceptional service and the best insurance products that suit your needs. As a licensed retail brokerage, our compensation is based on a commission basis already built into your insurance premium and varies based on the product purchased through our platform. For a description of how APOLLO Insurance Agency is compensated and how this is calculated, please refer to our Compensation Disclosure document. For consumers in Ontario, please review the RIBO Conduct Fact Sheet and the RIBO Conduct Guidance document.