HDFC ERGO General Insurance understands the risks facing companies that operate
in an environment where innovation is a business imperative, not a lofty goal. Our
technology specialists have helped companies build a portfolio of third-party liability
solutions such as Errors & Omissions insurance and intellectual property insurance
to help protect a company’s bottom line from the financial devastation of a lawsuit.
We insure a wide range of companies within the Information & Network Technology
industry, ranging from hardware to software to service companies.
IT and Telecommunications
- Equipment Manufacturing
- Computer and peripheral equipment manufacturers
- Computer equipment manufactures
- Electronic components and accessories manufacturers
- Integrated circuit manufactures
- Network/hardware manufacturers
Software Development
- Designers, developers and producers of:
- Pre-packaged software
- Operating systems
- Networking Software
- Databases
- Application software and tools
- Computer programming
- Shrink-wrapped software
Information Technology Services
- Data processors and system integrators
- Data storage and retrieval services
- Computer consultants and systems analysts
- Computer maintenance and repair
- IT outsourcing and facility managers
- Value added resellers
- Other computer-related services.
Telecommunication
Services -Voice data and video transmission services including:
- Internet Service providers
- Application service providers
- Web hosting, data centers and ancillary services
- Wireless communication and messaging services
- Network consulting and support services
Errors & Omissions Liability Insurance
Information and network technology companies are facing greater risks than ever
before —especially when it comes to product and service performance. Botched orders…payroll
delays…foul-ups in the processing of records…losses of data…failures in delivery…all
potentially caused by products or projects that have gone wrong. Getting what's
wrong made right means huge expenses and business distractions to project owners,
and they are increasingly turning to the courts for remedy.
HDFC ERGO General Insurance's INT errors and omissions liability insurance is specifically
developed to meet the needs of information and network technology companies in today's
litigious business climate. Errors and Omissions Liability (E&O) insurance provides
essential protection to help protect a company’s assets when standard General Liability
insurance does not. Specifically, it can help protect a company against claims for
financial injury that allege a product failed or the company failed to perform services,
causing a loss of use of tangible or intangible property to others.
Most E&O insurers offer a “one size fits all” approach. We believe that E&O
insurance should fit a company’s business needs and budget. HDFC ERGO General Insurance's
INT Errors and Omissions offers scalable protection for companies large and small,
with flexibility that allows companies to purchase the level of insurance that is
right for them.
Three levels
of protection
- Value — This product is just that — great value for the money.
It helps protect a company in the event it becomes legally obligated to compensate
customers for consequential damages they suffer after acceptance of the company’s
product or service and arising out of the company’s error or omission.
- Standard — This product helps protect a company in the event it
becomes legally obligated to compensate its customers for consequential damages
suffered prior to and after acceptance of the company’s product or service and arising
out of the company’s error or omission.
- Premier — This top-of-the-line product offers Standard level protection,
plus protection against customer claims demanding the return of amounts they paid
for technology products or services.
All three levels of protection can be further enhanced to provide insurance for
the following cutting-edge exposures:
- Security Breach / Unauthorized Access by Others
- Intellectual Property Infringement Risk
- Privacy Violation Risk
HDFC ERGO General Insurance offers a full complement of additional insurance products,
including commercial automobile, workers compensation, directors & officers
and crime
Why does your company need INT Errors and Omissions?
Consider the following scenarios: A communications company sues for lost revenue
and expenses to recover billing files for wireless customers that were deleted by
their software vendor who was updating the system. INT Errors and Omissions responds
to the suit settlement of $750,000 plus defense costs of $150,000.
A personal computer assembler is sued by a group of consumers in a class action
suit. The suit alleges that the company's equipment did not live up to advertised
specifications. Citing issues such as lack of speed and poor upgrade capability,
they demand full refunds. INT Errors and Omissions responds to the suit settlement
of $1,600,000.
For more information about Errors & Omissions insurance for information and
network technology companies, call us on our toll-free number
1800-2-700-700
or write to us at
care@hdfcergo.com