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Technology E&O Insurance

Sophisticated protection for a world increasingly integrated with technology

Errors and Omissions Insurance (E&O) is coverage that protects technology product and service providers from financial losses related to lawsuits.  This is also known as Professional Liability Insurance (PLI), and whether you do business in Texas, or elsewhere in the U.S., you need PLI to keep your business protected from unnecessary losses. 

E&O begins when one of your clients claims that your work has resulted in damages that caused direct economic losses. Whether the claimant is correct or not, you need a strong E&O policy to prevent you from having to pay various costs related to this claim.  An E&O policy covers expenses related to legal defense, lawyers’ fees, and court costs.  It also covers other claim-related costs.

At Hamann Insurance Group, we help you understand the risks that you face as a technology provider.  We also help you select coverages that mitigate these risks.   


Specific Coverages related to your Line of Work

E&O insurance provides protection for IT companies, freelancers, and independent contractors.  Companies that provide technology products and services are any of the following: 

  • Data storage companies
  • Website designers
  • Computer software manufacturers
  • Computer manufacturers

Tech E&O policies cover liability and property loss exposures.  Specifically, these are:

  1. Financial loss of a third party arising from failure of an insured party’s product to perform as intended or expected
  2. Financial loss of a third party arising from an act, error, or omission committed in the course of an insured party’s performance of services for another


E&O policies typically do not cover:

  • Bodily injury
  • Property damage
  • Personal or advertising injury

Professional liability exposures for technology companies extend beyond simple economic loss from failure of goods, products, or devices to perform as intended.  These exposures include:

  • Intellectual property claims such as copyright or trademark infringement 
  • Invasion of privacy: network security breaches
  • Website activities
  • Media content

Why is an E&O policy necessary?

As technology rapidly evolves, so do the exposures that technology providers face.  Legal systems sometimes do not keep up with this evolution and therefore cannot provide adequate protection for technology providers.  A comprehensive E&O policy can help a technology business stay afloat.  

Some owners of technology-related businesses do not know that they need E&O coverage.  They might be under the false assumption that commercial general liability (CGL) coverage is all they need.  Some owners may find it difficult to accept that there is no standard insurance form for E&O, which makes coverage comparisons difficult.  It also may be difficult for these owners to accept that E&O policies are written on claims-made bases, which makes it appear as if preparing for E&O claims is difficult. 

Regardless of whether or not it is difficult for a technology-providing company owner to accept reasons for purchasing an E&O policy, purchasing the policy is essential.  At Hamann Insurance Group, we know that an E&O policy takes careful planning and attention to detail.  We make sure that no detail is spared and that your policy is available for the most cost-effective price. 

The best way to get started is to speak with an agent at HIG.  He or she can help illustrate why E&O coverage is necessary and help differentiate between E&O and other similar types of insurance.  


Our Solutions

We can match your needs with the right E&O policy.  This way, your business is protected against the potentially massive costs of damages no matter what. 

Contact one of our specialists today by filling out the free quote request form below or by calling us at 866.736.2184

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