Technology
Tech-Savvy Coverage: The Core Policies No Innovator Can Afford to Overlook
These core policies are non-negotiable for any tech company looking to innovate and grow without risk of setbacks.
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February 23, 2025
Technology Infrastructure & Innovation Risk Enterprises
Protecting Data Centers, SaaS Platforms, AI Innovators, and Tech Manufacturers with Optimized Risk Structures Built for IP, Cyber, and Operational Disruption.
Technology companies operate at the edge of innovation and liability from data loss to platform outages. Our risk solutions are engineered to protect performance, secure IP, and support global digital expansion.
$5.2T
Global tech industry will surpass $5.2 trillion in spending this year.
71%
Of technology firms cite cyber risk as their primary exposure.
$9.5M
Average cost of a U.S. data breach in the technology industry.
The Unique Risks of the Technology Sector
Tech enterprises face evolving risk across cyber liability, intellectual property, cloud outages, and contractual failure requiring custom-built insurance programs to protect platforms, product innovation, service uptime, and international client obligations.
Cyber and Ransomware Attacks - Targeted incidents disrupting platforms, servers, or data environments.
Intellectual Property Disputes - Litigation over patents, trademarks, or code ownership.
Platform Downtime and Service Outage - Revenue loss and SLA breach from outages.
Third-Party Vendor Exposure - Liability from software or hardware failures by partners.
AI and Algorithmic Liability - Legal action from flawed automation, bias, or error.
Technology risk requires intelligent insurance that protects innovation, uptime, and intellectual capital while navigating the shifting landscape of cyber, vendor, and legal exposure.
Specialized Coverages for Technology
Cyber Liability & Data Breach
Covers ransomware, phishing, and credential compromise company wide
Forensics, recovery, and regulatory defense
Notification, credit monitoring, and class action defense
Intellectual Property (IP) Defense
Legal defense against IP infringement claims
Reimbursement for licensing, settlements, or arbitration costs
Optional first-party IP protection for proprietary assets.
Technology Errors & Omissions (Tech E&O)
Covers financial loss from service failure or system malfunction
Protection against SLA breaches and platform downtime
Extends to contractual liability for SaaS providers
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Business Interruption for Tech Operations
Replaces lost revenue from network or cloud downtime
Covers extra expenses and service refund obligations
Critical for SaaS, PaaS, and IaaS enterprises
Technology Product Liability
Covers injury or property damage from defective hardware
Defense against consumer or enterprise claims
Required by distributors and major enterprise buyers
Case Study
The Risks of Scaling Tech in a Connected World
Menlo Park, CA
Meta Data Breach Fine
Meta Platforms paid $1.3 billion for GDPR violations tied to EU-U.S. data transfers.
Austin, TX
Software Update Shutdown
A misconfigured update disabled thousands of customer devices, triggering SLA breach claims and restitution costs.
San Francisco, CA
AI Liability Class Action
An AI tool's biased outputs led to litigation over discrimination and reputational harm.
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