Software Consulting & Development Technology E&O

Software Consulting and Development

Software developers have creative minds, that allow the rest of us to process technology devices easier.  A software company may engage in providing custom computer programming, which often leads to a variety of additional services, such as computer software design and analysis, modification of existing software and training on the use of the software.

Opportunity:

• Size of Market:  Over $190 Billion in revenue
• Average Premium:  $1,200
• Minimum Premium:  $500

How to Quote:

• Technology E&O Application
• EZConnect Online Quoting

Categories include:  

• Accounting/Financial/Payroll (no funds transfer)
• Business Application Software Development
• Database Design & Maintenance
• Business Process Automation
• ERP/CRM Implementation & Maintenance
• Document Management Systems

Exposure Concerns:

Of course the largest concern is a technical issue.  What if your clients system crashes, 24 hours after you upload a custom software or application developed specific to this client?  Your client is looking to you for answers.  Look to Stuckey & Company for Technology insurance.

Prohibited Services include:

• Gaming software

Key Questions:

1. What is the end use of the software?
2. What type of risk management procedures does the risk have in place?
3. Who are their clients?
   
4. What types of industries does the risk serve?

 Coverage:

• Revenues from $1k to $25M
• Limits up to $5M
• Deductible options ranging from $1k to $250k

If you think that you have a business or know of a business that provides these type of services and is in need of professional liability insurance, please contact Stuckey & Company.