Tech E&O insurance and cyber insurance are two essential coverages for companies in the tech industry. While they both deal with technology-related risks, they protect against very different threats. Understanding the difference between Tech E&O and cyber insurance will help your business decide which coverage you need – and in many cases, tech companies may need both.
Technology Errors & Omissions insurance is specialized professional liability coverage designed specifically for technology companies, protecting against third-party claims arising from mistakes, errors, or failures in technology products and services that cause financial losses to clients.
Applying for media liability insurance is an important step in protecting your media or advertising business. Unlike buying a simple auto or home insurance policy, the media liability insurance application process can be a bit more involved. Insurers need to understand the nature of your content, your media activities, and how you manage risks in order to offer coverage tailored to you. Don’t let this deter you – with preparation, the application can go smoothly and even help you reflect on best practices for your business.
Social media has revolutionized how individuals and businesses communicate with the world – but it has also introduced new risks. Social media liability insurance refers to coverage that protects against lawsuits and claims arising from content posted on social media platforms. In the age of Twitter, Facebook, Instagram, TikTok, and countless other platforms, a single post or comment can go viral and potentially lead to legal trouble.
When it comes to protecting your content and media business, you want the best media liability insurance available. But “best” can mean different things depending on your needs. Unlike, say, choosing the best laptop or best camera, the best insurance policy isn’t about a brand name or flashy features – it’s about finding the right coverage that offers comprehensive protection, reliable service, and good value for your particular media risks. In this article, we’ll discuss what makes a media liability insurance policy high-quality, how to identify the key features of top-tier coverage, and tips for selecting the optimal policy for your situation.
Writing and publishing can be perilous from a legal standpoint. Media liability insurance for authors is designed to protect writers – whether they are journalists, book authors, or bloggers – from lawsuits related to their work. In an era where lawsuits against content creators are not uncommon, this specialized coverage (often known informally as “libel insurance” or authors’ E&O) is increasingly important. Below, we explore why authors need media liability insurance, the risks they face in the course of writing, and how this insurance safeguards their careers and finances.
Media liability insurance cost varies widely depending on your business and the scope of coverage. In evaluating how much media liability insurance costs, it’s important to consider the factors that influence premiums and to compare the cost against the protection it provides. Below, we break down typical price ranges, key cost drivers, and why media liability coverage is worth the investment for content creators and businesses of all sizes.
For publicly traded companies, Directors & Officers insurance is not only essential – it can also be a significant expense. D&O premiums for public firms tend to be much higher than those for private companies, reflecting the greater exposure to shareholder lawsuits and regulatory scrutiny. In recent years, many organizations have seen their D&O insurance costs fluctuate wildly due to market forces and claims trends.
The threat of cyber attacks is at an all-time high, and no business – not even a lean tech startup – is too small to be targeted. Getting cyber liability insurance is one of the smartest moves a company can make to protect itself from the financial fallout of hacks, data breaches, and other cyber incidents. Consider that 60% of small businesses close down after a serious cyber attack, and the average cost of a data breach globally hit $4.45 million in 2023. Cyber insurance can mean the difference between a survivable incident and a company-ending disaster.
Imagine a scenario where your startup’s big project fails and angry investors sue your board of directors for mismanaging the venture. Or consider a regulator investigating your company, naming the CEO personally in an inquiry. These situations can and do happen – not only to large corporations, but also to growth-stage and even small companies. Without D&O insurance, the legal costs and potential damages in such cases would have to come out of the company’s (or individuals’) pockets.
Business owners and startup founders often encounter a bewildering array of insurance acronyms. Two of the most important – and most misunderstood – are E&O (Errors & Omissions) and D&O (Directors & Officers) insurance. It’s easy to mix them up, but they serve very different purposes. In fact, carrying one doesn’t mean you’re protected against the risks covered by the other. This article breaks down the differences between E&O and D&O, with examples, so you can clearly see why many companies (especially in tech) end up needing both.
Imagine a scenario: a bug in your software causes a client to lose data and revenue – they demand compensation, claiming your company’s mistake cost them. Now imagine separately that an investor sues your startup’s board, alleging mismanagement after a product launch goes awry. These are very different claims, and that’s where E&O and D&O insurance come in. E&O (Errors & Omissions) would respond to the client’s lawsuit over your performance, while D&O (Directors & Officers) would cover the leadership in the investor dispute.
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