Industries
Insurance for Technology and Software Businesses
Tech companies usually meet insurance through someone else's checklist: an enterprise customer's vendor requirements, an investor's closing conditions, a data processing agreement. The requirements are specific and the deadlines are real.
BrokerPro works with Arizona software companies, IT service providers, and startups to meet those requirements with coverage that actually matches the product.
Common risks
Tech-specific exposures:
- Software failures or outages that cost customers money
- Data breaches and security incidents, yours or a vendor's
- Contract disputes over SLAs and deliverables
- IP allegations around code, content, and marketing
- Employment claims as teams scale
- Board and investor claims after fundraising
Recommended coverage
A typical tech program:
Technology E&O
covers the product failing and the advice behind it; usually blended with cyber
Cyber liability
breach response, extortion, and liability to affected parties
General liability
lease and vendor checklists ask for it; cheap to include
D&O
expected once outside investors arrive
EPLI and workers comp
as headcount grows
What landlords, clients, and contracts commonly require
- Enterprise contracts commonly require tech E&O and cyber at $1 million or more
- Investors typically require D&O at financing close
- Data processing agreements increasingly specify cyber minimums
Common questions
An enterprise deal requires $2M E&O and we have nothing. How fast can this happen?
Tech E&O for small software companies can often be quoted in days, with the certificate following immediately after binding. Have your revenue, customer mix, and a security overview handy; those drive the quote.
What's the difference between tech E&O and cyber insurance?
Tech E&O responds when your product or service fails and costs customers money. Cyber responds to security incidents and data breaches. Most carriers sell them blended into one policy for tech companies, which usually serves small companies well.
Do we need D&O before raising a round?
Most institutional investors require it at closing, so having it quoted before term sheets saves a scramble. Early-stage D&O packages are commonly a few thousand dollars a year.
Insurance built around how technology and software actually work
Send us the basics. We'll ask the right questions and come back with options.