AITA Spring Conference – live blogging E&O presentation

Mark Green of HRH is talking about properly insuring a growing tech company this morning as a session in the AITA’s Annual Spring Conference this morning at the Wynfrey Hotel in Birmingham.

What is E&O insurance?  General Liability vs. Errors & Omissions

  • General Liability
    • physical loss
    • bodily injury
    • damage to tangible property
    • third party coverage
  • Errors and Omissions liability
    • financial loss
    • loss of tangible property
    • failure of product/service
    • third party coverage

Why do you need it?

  • Customer contracts require it
  • Your investors require it
  • To protect your assets
  • Manage your evolving risk with issues such as…
    • Cyber liability
    • Unauthorized access
    • Identify theft
    • Random theft
    • Rogue employee
  • Financial impact on the company

How Can You Protect Your Assets?

  • Selection of your insurance agent
    • Technology expertise
    • Technology carrier relationships
    • Experience with other technology clients
  • Tailored E&O Policy… establish most important coverages, such as:
    • Enterprise-wide coverage
    • Public disclosure of private information
    • Failure to prevent unauthorized access
    • Failure to prevent transmission of a ocmputer virus
    • SEC violation
    • Choice of counsel options
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