Tech E&O 101: What Are Common Exclusions On A Tech E&O Insurance Policy? And Other Considerations.

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Tech E&O insurance is designed to protect your business from claims of negligence, errors, or omissions in your professional services. But it's important to know what it typically doesn't cover.

Here are a few common exclusions:

First, intentional wrongdoing or fraud. If you or your employees are found to have intentionally caused harm or engaged in fraudulent activities, your Tech E&O policy won't cover those claims.

Second, bodily injury or property damage. Tech E&O focuses on financial losses due to errors in your services, but it will not typically automatically include coverage for physical injuries or damage to property. For that, you would need to make sure that there are specific endorsements on your policy to not exclude coverage for those events. need a General Liability policy.

Similar to that would be contractual liability. If you're sued because you failed to meet a contract's terms, your E&O policy might not cover you unless the liability would exist even without the contract. This is where careful contract review and management come into play. Again, typically, a specific endorsement on the policy is needed for this type of coverage.

Lastly, product liability. If your tech company manufactures or sells physical products, claims related to defects in those products might not be covered under Tech E&O. For these risks, you will need a Product & Completed Operations Liability which can typically be found on a General Liability policy.
But depending on the types of products, you may need a standalone Products Liability policy.

Next there are some other items worth considering:

First is that the definition of "professional services" can vary by policy, and some activities might not be covered if they fall outside of this definition. It's crucial to properly portray to the insurance company the work and services your company provides to ensure proper coverage and avoid claim denials.

Then would be the coverage limits and sub-limits. Even covered claims might have specific limits or sub-limits within the policy, which can affect the total amount paid out. Understanding these limits is essential to avoid unexpected costs.

Knowing what may be excluded on your Tech E&O policy can help you make sure you’re asking the right questions about your policy when you are reviewing your coverage and can also help you see the bigger picture of your risk management strategy.

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I look forward to working with you!

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**DISCLAIMER: THIS IS NOT LEGAL ADVICE. USE AT YOUR OWN DISCRETION. THIS VIDEO INCLUDES MICHIGAN INFORMATION ONLY.