A service failure can affect a customer's business
Consider a software implementation that incorrectly processes a client's orders or a failed integration that disrupts its work. The client may allege financial harm from your technology services. The relevant questions include what was promised, what work was performed, and how the policy defines insured products or services. This is an illustrative allegation, not a coverage guarantee.
Review the contract alongside the proposal
Identify service-level commitments, indemnity language, limits of liability, customer insurance requirements, and who performs subcontracted work. Ask whether the policy descriptions reflect implementation, hosting, support, consulting, and other activities you sell. Contract review for insurance purposes does not replace advice from your legal counsel on the agreement.
Timing and continuity can matter
Ask whether the proposal uses a claims-made structure, how retroactive dates work, and when claims or circumstances must be reported. Discuss previous work and any known disputes accurately. Consider these questions before changing insurers, acquiring another business, or materially changing your service offering. Review policy continuity with the actual forms in hand.
Is a customer contract enough to determine the right limit?
No. A required limit is one input. The review should also consider the services you perform, customer dependence, contract terms, revenue, and the consequences of a failure. A contract's minimum does not establish that every exposure is insured.
Are cyber insurance and technology E&O the same?
No. They address different questions, although some programs combine them. Technology E&O examines liability connected with products or services; cyber coverage examines specified data and system events and associated losses. Compare the relevant sections, exclusions, and shared limits.
What should a SaaS company provide first?
Start with a description of the platform, annual revenue, customer types, largest contracts, service dependencies, prior disputes, current policies, and renewal timing. Explain new products, overseas customers, or AI-related functionality where relevant. Underwriters may request further information.
What does the next customer contract ask of you?
Share your services, performance commitments, and the deadline for your insurance review. Cory will follow up to discuss the business and the information needed for the next step.
Request an insurance review with Cory or call 845-721-0744.
Preparing for the conversation? Download the business insurance review checklist (PDF). No signup required.
Practical reading before your next decision
Explore all business insurance resources
Submitting an inquiry does not bind, amend, or cancel coverage. Coverage availability and terms depend on underwriting and the policy issued.
Further reading: Insurance coverage background.
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Technology E&O versus cyber insurance
A service-performance allegation and a security or privacy incident can overlap, but they are different exposures. Compare the insuring agreements, exclusions, and shared or separate limits. Describe both your technology services and your control of customer data. Read the Cyber insurance guide.
