TECHNOLOGY E&O INSURANCE
Protection for industries that are constantly changing
Technology evolves fast – and the disputes evolve with it.
When products, services or projects fail to meet expectations, the financial and reputational consequences can be significant. Having the right cover in place allows you to innovate and grow with confidence.
Technology errors and omission insurance, also known as Technology PI, protects technology companies from damages and claims expenses as a result of errors, acts, omissions, or breach of contract in their provision of technology services, or for failure of their Technology Products to perform their intended purpose.
This type of insurance can cover
- Oversights and mistakes in the provision of Technology Services
- Failure to deliver or implement technology products of services
- Failure of technology products
- Unintentional breach of contract
- Any financial damage caused to third parties
- Software copywright
- AI technology failing to perform to the level expected in contract
- Failure in the design of AI software and models
- Failure of blockchain technology
Key benefits
1.
Financial protection – Coverage for legal costs, damages and settlements arising from claims by clients or third parties – safeguarding your financial resilience.
2.
Professional reputation – Demonstrate your commitment to risk management – and reassure clients that you take their interests as seriously as they do.
3.
Legal defence – Get the lawyers, experts and resources to navigate legal proceedings.
4.
Contractual compliance – Many clients require PI insurance as a contractual condition. Increase your chance of winning new business.