TEch E&O

What is it?

Tech E&O insurance, also known as Technology Errors and Omissions insurance, is a type of insurance coverage that protects technology companies and professionals from financial losses and legal liabilities resulting from errors, omissions, or negligence in providing technology-related services or products.

Why do you need
Tech e&o Insurance?

Protection Against Professional Liabilities

Financial Risk Mitigation

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Client Contract Requirements:

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Reputation Protection

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Who would benefit?

Tech E&O insurance is typically relevant and recommended for a wide range of companies operating in the technology industry.

Software development companies
IT consulting firms
Managed service providers
Technology service providers:
Data management and analytics companies
Software-as-a-Service (SaaS) providers
E-commerce and online retail platforms
Cybersecurity firms
Telecommunications companies
Technology hardware manufacturers

What is Covered?

Loss arising from a Cyber Event
Loss arising from a security breach
Loss arising from theft or disclosure of paper records
Data and system restoration costs
Loss of income and extra expenses incurred in the wake of system business interruption
Costs and expenses, fines and penalties resulting from a regulatory investigation
First-party and third-party privacy breach notification costs
Loss arising from cyber threats and extortion

Who is covered?

The company and its subsidiaries - Any past, present, future senior executive officer or employee of the company or its subsidiaries‍.

What is Excluded?

(examples of exclusions – not meant to be exhaustive)

Claims arising out of any actual or alleged antitrust violations
Loss sustained as a result of the loss of an unencrypted portable device
Claims arising out of any wilful or dishonest acts of senior officers
Claims arising from claims or circumstances known at inception
Claims arising from war, terrorism, invasion, or insurrection with carve back for cyberterrorism and electronic terrorism
Claims arising from Bodily injury and property damage with carve back for mental anguish and emotional distress

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Relm Insurance Ltd.
31 Victoria Street,
Victoria Place,
5^th Floor West
Hamilton | HM 10 | Bermuda
(441) 707-0252

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© Relm Insurance Ltd. All rights reserved. Authorized and regulated by the Bermuda Monetary Authority and registered under the Segregated Accounts Companies Act 2000. Relm Insurance is not authorized or licensed outside of Bermuda and deals only through appropriately licensed insurance brokers. To ensure compliance regarding our insurance support of companies domiciled in jurisdictions outside of Bermuda, any request for coverage must go through the appropriate broking channels. The publication and delivery of the information contained within our website is not intended as a direct solicitation for the purchase of insurance coverage.