A type of insurance designed to cover providers of technology services or products. For example, data storage companies and website designers provide technology services, while computer software and computer manufacturers offer technology products. Tech E&O policies cover both liability and property loss exposures. Technology Professional Liability insurance or IT Liability insurance protects all types of technology professionals if a client alleges that you were professionally negligent or failed to perform duties as promised in your contract. Some of your clients may require that you and your sub-contractors carry this insurance. The right kind of policy can protect both the IT consulting company and sub-contractors from claims of a perceived error or omission, even if the problem occurs months after the initial consultation. Technology companies and startups are a unique type of business with very specific insurance requirements. In addition to the standard types of coverage like general liability insurance or property insurance, the operational risks that tech companies face trigger insurance needs that are solved by more nuanced lines of coverage like technology errors and omissions insurance and cyber liability insurance. If you run a technology business or are thinking about starting one, this insurance guide should help you understand what types of coverage to consider and why. This explanation of insurance benefits is provided by Insurance Marketplace.