Technology Errors & Omissions Insurance 101

Technology Errors & Omissions Insurance 101

Understand the fundamentals of Technology Errors & Omissions Insurance, including privacy and network security exposures and coverages for technology product and service providers. Learn to identify when organizations need Technology E&O insurance, how it works, what it looks like, and where and how it fits into a larger insurance program.

Pointers

What You Will Learn

Coverage
What is covered and not covered under a stand-alone Tech E&O insurance policy, including key differences in coverage between policies offered by different insurance companies.
Exposures
Privacy and network security exposures faced by technology companies today, and why cyber and media liability insurance is critical for technology providers.
Risk Mitigation
Risk mitigation and contract management, and why this is critical for technology companies.
Policy Analysis
The critical differences among Technology E&O policies, and critical policy wording language that every buyer should understand.

Course Curriculum

Welcome to Technology E&O 101

  • Welcome Message from Instructor
  • Course Introduction and Objectives FREE PREVIEW
  • Downloadable Course Material

What is Technology E&O Insurance?

  • Chapter Introduction & Objectives
  • What is Liability Insurance?
  • Commercial General Liability
  • The Basics of E&O Insurance FREE PREVIEW
  • Technology E&O Insurance
  • Exclusions under a CGL: the need for Technology E&O insurance
  • Tech E&O and CGL: not a perfect match
  • Example of Financial Loss vs. Property Damage
  • Cyber within Tech E&O
  • Quiz #1: What is Tech E&O?

Who needs Technology E&O Insurance?

  • Chapter Introduction & Objectives
  • A technology user vs. a technology provider
  • Technology user vs. a technology provider? FREE PREVIEW
  • Examples of technology companies
  • Emerging Technologies: Insurance Implications
  • Quiz #2: Who needs Tech E&O Insurance?

Cyber, Privacy and Network Security

  • Introduction & Objectives
  • What are cyber exposures? FREE PREVIEW
  • Who is at risk for cyber exposure?
  • Technology and Privacy - Who is responsible?
  • What causes a privacy and network security breach?
  • Network security breach - an example
  • Quiz #3: Cyber, Privacy and Network Security

The Technology E&O Policy

  • Chapter Introduction & Objectives
  • What are First Party & Third Party Coverages?
  • Understanding Insuring Agreements
  • Common Liability Insuring Agreements
  • Wrongful Act, Claim and Loss FREE PREVIEW
  • Media Liability & Intellectual Property Coverage
  • First Party Coverage
  • First & Third Party - A claim example
  • Part 2: First Party & Third Party - A claim example
  • More Claims Examples
  • Quiz #4: The Tech E&O Policy

Risk Mitigation & Important Policy Considerations

  • Introduction & Objectives
  • Contract Basics
  • Critical Elements of a Contract
  • Breach of Contract
  • Evaluating Risk
  • Important Policy Considerations
  • Claim Reporting Requirements FREE PREVIEW
  • Common Exclusions
  • Limits and Sub-limits
  • Quiz #5: Risk Mitigation & Important Policy Considerations

Course Conclusion & Final Exam

  • Course Wrap Up
  • Course Survey
  • Tech E&O Final Exam

About ITC Courses

ITC takes pride in delivering high quality, unbiased courses on professional and management liability insurance and related topics. Designed specifically for online delivery, our courses are interactive, include activities and quizzes, use practical illustrations and real-life case studies and deliver knowledge in bite-sized portions so even just 5 minutes is learning time well spent.

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Testimonials

Broker, VP, Canada

ITC’s Understanding Financial Statements course fills a large gap in the specialty insurance industry and has the ability to take the burden off busy brokers trying to put time into training new hires. I highly recommend including this course in brokerage onboarding practices to help accelerate the training process or bolster knowledge already obtained. Understanding not just how to read financial statements but also having more background on why an underwriter is quoting the terms they are will help put brokers in a much better position to negotiate and advocate for their clients. This course is versatile enough to apply and be beneficial to non-specialists also.

Broker, Australia

ITC effectively tackles complex subject matters in a very creative manner. I would highly recommend to anyone looking to broaden their understanding.

Broker, Canada

Great way to enjoy an evolving subject matter. Thank you ITC, enjoyed that!

Broker, Australia

Tough topics. Beautifully presented.

Senior Underwriter, Canada

I’ve been in the industry for nearly 15 years and event I learned some things in this course! It’s a straightforward and intelligent way of presenting a complex issue. Not a small feat.

Everyone will find this course helpful, no doubt.

Broker, Canada

ITC has done it again! This is the most comprehensive course on Employment Practices Liability I’ve ever seen. The subject matter is presented clearly and broken into subsets allowing you to spend only a few minutes or longer as your time permits. Examples are applicable to real-life situations. Excellent for new and established professionals!

Frequently Asked Questions

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