Many business owners assume that their general liability insurance covers all damages related to their networks, computer equipment, software, and online databases. However, while the policy may pay out if the company’s equipment is damaged in a fire or is stolen, it may not cover damage that isn’t as tangible. It may not protect the company from a lawsuit if data is stolen, for example, or if the system is compromised by a virus.
How Does a Company Protect Against These Threats?
The first thing you need to do is to speak to the experts at J. W. Hoban & Associates about the risks that come with technology and how to protect your businesses from any legal action that could come from these risks. In most cases, you will need to take out a technology insurance policy. This policy will provide your company with additional protections that can be customized to cover your business’s needs.
What Does This Policy Cover?
A technology insurance policy can cover a number of different risks. It can protect your company against damages incurred from installing faulty software. This includes software such as anti-virus programs and anti-malware scanners that provide inadequate protection. If your computer equipment is irreparably damaged by viruses or other malware and you can show that the protective software you had in place was faulty or did not perform as advertised, your insurance should cover the damages. Again, every policy can be customized so each will be different.
Other Protections
In addition to protecting your company from inadequate protection from software, technology insurance also provides protection from harm caused by inappropriate or incorrect advice. If someone tells you that your company needs a certain type of hardware or software and that turns out to be incorrect, having this insurance will cover any damages caused by following this incorrect advice. You can also connect them on Facebook.
