Technology Industry Insurance
Risk Management & Insurance for Technology Companies
From medieval times to the mid-1800s, the ways businesses kept track of customer data didn’t change much: pen, ink, and ledgers. In the late 1800s, typewriters, pneumatic tubes, and telegraphs improved efficiency, but the real leap didn’t happen until computers and the internet hit the workplace. Today, technology industries employ nearly 7 million people who innovate at a rapid clip. Throughout these many evolutions, Gilbert’s Risk Solutions has been an insurance partner to the tech industry.
We’ve insured firms ranging from entrepreneurial startups to multi-state organizations: web firms, software programmers and developers, data managers, technology consultants, application service providers, and more.
Risks Technology Companies Face
Technology companies face a distinct set of exposures: errors and omissions in software or services, cyber liability, IP disputes, employment practices, and commercial property risk.
While we’re proud to call Pennsylvania our home, we’ve helped businesses all across the country manage their risk, and we look forward to helping you too, no matter where you call home.
Our Insurance Solutions for Technology Companies
Our consultative approach to risk management, coupled with our strong relationships with dozens of specialty insurers, makes us uniquely qualified to be your insurance partner as you grow.
Common Insurance/Services for Technology Companies:
- Business Owners Policy (BOP)
- Commercial General Liability
- Commercial Property Insurance
- Business Interruption/Loss of Business Income Insurance
- Errors & Omissions
- Umbrella
- Cyber Liability
- Data Breach
- Commercial Auto
- Non-Owned/Hired Auto Coverage
- Workers’ Compensation
- Employee Benefits
- Employee Benefits Liability Insurance
- Crime Insurance
- Surety Bonds
Technology E&O vs. Cyber Liability
These two coverages are often confused but address different exposures.
- Technology E&O covers claims arising from failures in your technology product or service — like a software bug that causes a client financial loss.
- Cyber liability covers the costs of a data breach or ransomware attack — regardless of whether your product caused it.
Many tech firms need both. Learn more about our Cyber Liability Insurance.
Our Goal Is to Be Your Outsourced Risk Management Partner
Whether it’s a data breach, a copyright dispute with a contractor, a programming error that costs a client money, or a DDoS attack that shuts down production, tech companies face risks that standard business insurance was never built for.
Tailored Solutions
For smaller technology operations, a Business Owners Policy (BOP) might be the right approach. For larger firms, a tailored package of liability, property, and specialty coverages may afford the best protection. As part of our risk assessment process, we’ll advise you of any industry-specific exposures that warrant supplemental coverage.
360 Degree Approach
We take a 360-degree view of your business to ensure all aspects are secure. Our team of experts in Loss Control, Employee Benefits, HR, and Surety Bonds are all available to our commercial clients, ensuring a multi-pronged approach to risk mitigation.
Our RISK SHIELD® Process
Our proprietary RISK SHIELD® Process identifies your exposures and puts a loss control plan in place to mitigate them. Often the solution is an insurance product, but frequently it’s a recommendation for a business process or measure that reduces an exposure.
CONSULT
DESIGN
BUILDING
MAINTAIN
Technology Industry Insurance FAQs
Technology E&O covers claims arising from failures in your technology product or service — such as a software defect or missed deadline that causes a client financial harm.
No — general liability typically excludes claims related to professional services or product performance, which is why technology E&O coverage is essential. Learn more about our General Liability Insurance.
Yes — even companies that don't sell software directly often store sensitive data, making them targets for data breaches and ransomware. Learn more about our Cyber Liability Insurance.
Growing tech companies often benefit from Directors & Officers (D&O) coverage, especially once outside investors or a board are involved, along with Employment Practices Liability as the team scales. Learn more about our Management Liability Insurance.
