Why Should an IT Consultant Have Professional Liability Insurance?

Professional Liability Insurance can provide protection for IT consulting firms and the myriad of services a consultant might provide. Professional liability also covers some risks that are typically not covered under general or cyber coverages, such as those arising from contract law breaches and intellectual property infringement claims. For example, an IT consultant should have…

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Does tech insurance cover a breach of contract?

In the world of professionalism and business, signed contracts are essential. When servicing clients and customers, contracts establish clear requirements and expectations. However, when those expectations aren’t met and a breach of contract takes place, one or both parties may be susceptible to a lawsuit. Protecting yourself from a breach of contract lawsuit is essential.…

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The most expensive non-bug in history. Cost: $100 billion!

The Y2K bug was a computer flaw, or bug, that may have caused problems when dealing with dates beyond December 31, 1999 The Y2K bug was a computer flaw, or bug, that may have caused problems when dealing with dates beyond December 31, 1999. The flaw, faced by computer programmers and users all over the world on January 1, 2000,…

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Ground Control software gone wrong. Cost: $320 million!

In-depth: Mars Climate Orbiter Mars Climate Orbiter (MCO) was the second probe in NASA’s Mars Surveyor program, which also included the Mars Global Surveyor (launched in November 1996) and Mars Polar Lander (launched in January 1999). Mars Climate Orbiter was designed to arrive at roughly the same time as Mars Polar Lander and to conduct simultaneous investigations of Mars’ atmosphere, climate and surface. Arrival in orbit was dated…

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6 Common Examples of Technology Errors & Omissions Claims

Errors and omissions (E&O) claims have become a major threat to technology companies, and their severity has undergone rapid growth over the last decade or so. Tech E&O insurance offsets these threats by protecting IT companies from the risks of a client experiencing financial losses due to a tech product or service’s inability to perform…

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The most expensive hyphen in history. Cost: $169 million!

NASA’s computing required perfection. Anything less had serious consequences. In the dark on Sunday morning, July 22, 1962, NASA launched the first-ever U.S. interplanetary space probe: Mariner 1, headed for Venus, Earth’s neighbor closer to the Sun. Mariner 1 was launched atop a 103-foot-tall Atlas-Agena rocket at 5:21 a.m. EDT. For 3 minutes and 32 seconds,…

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Tech E&O vs. Cyber Liability Insurance: Which one do you need?

Businesses today are increasingly dependent on technology for their company operations. Companies rely on technology for keeping track of sensitive data and information about clients, potential clients, and employees. However, using technology comes with a substantial amount of risk, like technology failure, data breaches, or invasion of privacy.  Are tech companies liable when a client…

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What Is Import Export Insurance & Who Needs It?

Import Export insurance Post Insurance Torrance CA

Does your company buy or ship products to or from other countries? If so, then you probably need to know about Import Export Insurance. What is Import Export Insurance? With the advent of things such as Fulfilled by Amazon (FBA) and other online ventures, imports of products have become commonplace, even for small businesses. Larger…

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