Life isn’t without risk; bad things happen and we can’t do anything about them. The important thing is to pick ourselves up and recover from them – which is exactly what insurance aims to do. This is essential both for employers and employees, especially for those in the volatile technology industry. There are several insurance packages that every tech company should have, along with the standard health insurance and worker’s compensation.
Errors and Omissions and Professional Liability. This particular policy is used to respond to claims caused by the failure of your company’s services or products. Some examples would be unauthorized access to a system and delays in the implementation of your software. As a tech company, bugs are unavoidable so you’ll need this as your business starts booming.
Directors and Officers Insurance. In today’s lawsuit-happy environment, you’ll need to ensure you have the funds to defend yourself. This particular insurance helps cut down on any legal costs incurred by lawsuits against your directors and officers.
General Liability. This covers any incident of bodily injury, personal injury, or property damage for which the business can be liable for. Simple accidents like an employee slipping on the wet floor are examples of what general liability can protect your company from.