Technology E&O Insurance
Technology E&O Insurance is an Errors & Omissions Insurance policy that covers providers of technology products or services against financial loss resulting from a claim against them for actual or alleged errors, omissions or negligent acts related to the use of their technology products and services. This can include damages arising from claims related to network security vulnerabilities and cyberattacks, along with expenses incurred to mitigate these situations.
Eg. An IT organization assists a business in migrating their data from one system to another. During the migration important data is lost. The IT organization never made back-ups. The client sues for damages.
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