CoverITfast has been responding to the most frequently asked queries regarding IT insurance and technology insurance. Insurance offerings specific to the IT and technology industries are in huge demand. According to CoverITfast, IT and technology industries need to buy technology errors and omissions insurance along with the general liability insurance.
The necessity to purchase general liability insurance and buy technology errors and omissions insurance has puzzled majority of the organizations. CoverITfast however feels that it is mandatory for the office proprietor to purchase general liability insurance. The primary slip, trip and fall responsibility also known as bodily injury and property damage is covered by general liability insurance.
The actual exposure faced by the technology companies is protected under the buy technology errors and omissions insurance. The company’s indefinable and financial losses are covered under this insurance. The insurance also covers losses which occur when faults are found with technology or service and the firm can be held legally responsible for the same.
Specific risks pertaining to technology companies are covered by the buy technology errors and omissions insurance. According to CoverITfast, a buy technology errors and omissions policy can include additional key coverages like cyber accountability, intellectual property violation, media responsibility, and privacy accountability.
With the questions regarding the type of coverage a tech organization should purchase being resolved, CoverITfast now tries to resolve queries regarding the calculations of buy technology errors and omissions premiums. According to CoverITfast, these premiums are calculated on several criteria including industry sector, years in business, revenue, claims history, location, number of current employees, and the risk management procedures implemented.
IT Consultants and technology businesses are offered a unique insurance product, CoverITfast, which fulfills all their insurance needs. CoverITfast has proven to be advantageous to clients in one of the extremely pioneering and dynamic industries. These clients have always needed a technology insurance company to truly understand their exclusive business requirements. These requirements are now completely satisfied by CoverITfast.
CoverITfast is offered by TechAssure, a non-profit organization comprising of independent brokerages. Clients can therefore be ensured that their agent will strive hard for them in the event when they need to file a technology insurance claim. At least 4,000 customers in the Innovation spaces are currently represented by TechAssure members.
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Edited by Rich Steeves