New Media Products for Social Media Companies

What is Technology E&O and why is it needed?

Errors & Omissions (E&O) insurance coverage is vital to every technology professional, regardless of the size of your company. It is a form of liability insurance that protects tech professionals from law suits arising from the  provision of, or failure to provide, professional services or products. Negligence and unintentional breach of contract are common allegations directed toward technology professionals today. With an E&O policy, your insurance company will defend you, or pay up to the limit of insurance, if you are found negligent in your actions.

Litigation in the event of a claim can be costly. The specialized nature of the work performed by technology professionals, the sensitivity of the information they handle, and the impact an error can have on their business make them particularly vulnerable to a variety of claims. Defense costs alone could severely impact the viability of their business. Technology professionals should not rely on contract requirements to determine their insurance needs. If services are provided or products are created, a Technology E&O policy should be pursued.

 Types of Risks Considered:

• Application Developers
• Internet Radio
• Online Dating agencies
• Photo Sharing websites
• Digital marketing agencies
• B2B networking sites

What is Cyber Liability and why is it needed?

Cyber Liability is an important coverage for any organization that utilizes websites or networks to provide professional services or to support their business. It is a form of Professional Liability insurance that protects organizations from liability arising out of the use of the internet. Common coverages include Network Security and Internet Media. Network Security covers loss exposures due to virus and unauthorized internet access. Internet Media covers loss exposures due to personal injury and intellectual errors stemming from content disseminated by the organization. Traditional liability policies generally exclude intangible cyber exposures resulting in gaps in an organization's insurance portfolio.

Types of Risks Considered:

• Charities
• Media Retailers
• Healthcare
• Entertainment
• Web Support Services
• Retailers

For more information, call us today at: 
(604) 684-9349 or submit the form below.