Why do technology businesses need “tech insurance
” – and not just good ol’ business insurance?
Traditional business insurance and traditional Commercial General Liability (CGL) policies are not sufficient to protect technology businesses against the unique risks they face. In fact, tech businesses own property, do things and/or face risks that are usually excluded from coverage in regular business insurance policies.
To complicate matters, some insurance companies will simply not insure certain types of IT businesses. Others choose not to insure IT businesses that do more than a certain amount of business in the US or other countries, and – to top it all off – some of the insurance companies that do insure your type of IT business may not offer all the coverages that you specifically need.
But, not to worry. That’s where Tech Insurance comes to the to the rescue ….