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Computer Programmer or IT Consultant Insurance
Information technology companies—such as IT consultants, web developers, software designers, and computer programmers—have unique technology insurance needs. Technology insurance, also called a cyber insurance policy, is needed when a failure of hardware or software products or services provided to your clients can result in critical mistakes being made. The legal liability exposures of web developers & IT consultants are rapidly evolving, with litigation becoming a more high stakes game than ever before.
Technology Insurance: Chicago & Nationwide
Like all companies, computer programmers and IT consultants need the standard coverage of property, general liability, auto and workers' compensation. Extending the property coverage to incorporate protection against perils unique to electronic equipment is advisable. In addition, technology companies may need specialized protection regarding:
Many business owners mistakenly believe that the incorporation process (Inc, LLC, etc.) completely separates their business from their personal assets. Unfortunately, any prosecuting attorney can easily attack your personal assets. IT consultant insurance makes sure that you are covered no matter what type of legal entity you have chosen for your business.
Technology Insurance Quotes
Errors & Omissions (E&O) Insurance
Also known as professional liability coverage, this type of policy protects you from damages resulting from doing something wrong as an IT consultant. Considering how many mistakes one makes in the course of a computer programmer career, the chances of getting sued for one of them depends a lot on the type of clients you take on. Good policies will cover your liability, as well as the cost of your defense. Typically, E&O policies are designed to cover:
- Liability associated with pure economic loss arising from a third party's use of a technology company's goods, products or services
- Damages to a third party arising from loss, damage or corruption of intangible property, such as data, and loss of use of tangible property that is not physically injured arising from your defective product or work
IT Consultant General Liability Insurance
Unfortunately for every business owner, the chances of getting sued have dramatically increased. A general liability insurance policy that is designed for computer programmers or web developers can prevent a legal suit from turning into a financial disaster by providing insurance protection in case your business is ever sued or held legally responsible for some injury or damage. Your policy may include:
A Cyber Insurance Policy
If you use e-mail, have networked PCs, a website, or private customer data in your computer systems, you have a lot to lose. You may have firewalls, virus protection, anti-spam systems, and prudent procedures to protect passwords and prevent employees from downloading dangerous material. But these measures are not foolproof. When they fail, your cyber insurance policy kicks in.
You may also be interested in: Data Breach Insurance