Tech Industry Business Insurance

Business Owner's Policy (BOP) For Tech Industry

A Business Owner's Policy (BOP) for tech businesses includes:

• General liability
• Property insurance
• Fire damage coverage
• Stolen equipment protection (Stolen equipment protection for business personal property is subject to policy limits and conditions).

Example: If a fire destroys your office and computers, the BOP would cover the cost to replace the damaged equipment, helping you resume operations quickly.

Excess Liability For Tech Industry

Excess liability insurance for tech companies offers extra coverage for:

• Large claims
• Coverage beyond policy limits

Example: If a client suffers a serious injury at your office and the claim exceeds your general liability limits, excess policy can provide additional coverage above your underlying policy.

Our Recent Client (case example)

A mid-sized Software-as-a-Service (SaaS) company approached us seeking protection after a near-miss ransomware incident exposed customer data. Their existing general liability policy did not address cyber exposures or technology professional services risk.

Challenge:

• Customer data breach and loss of service risk
• Potential regulatory fines, breach notifications, business interruption
• Technology errors and omissions exposure

Solution:
We customized a cyber liability and technology E&O policy covering breach response, regulatory defense, and business interruption, with built-in risk management tools and access to incident response experts at no extra cost.

Result:
The client is now better prepared if a breach ever happens, with access to response experts, solid financial protection against cyber losses, and a clear understanding of what costs are covered.