Technology companies have unique needs thanks to their unique services. Some tech startups operate large servers that host company websites or storage clouds. Should that server fail or have an outage, companies could lose sensitive information and a lot of business. Other tech startups provide software or hardware that companies use to manage their operations and serve customers. Again, if this software or equipment fails, the company could be out a lot of money and take a hit to its reputation.
Many more technology companies simply deal with sensitive data, such as user names, passwords, bank account information, and even social security numbers.
Purchasing general liability insurance in Arizona will only provide you some measure of protection against any losses for which your company is deemed liable. Smart Move Insurance provides a range of products specially designed for the tech industry, ensuring that any data breach or failure of your system doesn’t cost you hundreds of thousands of dollars or cripples your company.
Symantec’s 2010 SMB Protection report found that a data breach could cost even a small company an average of $188,000 and lose up to 42 percent of the stored confidential data. Our Phoenix cyber liability insurance will protect you against losses caused by a data breach or other tech failure. The insurance can cover loss of income, the cost of hiring a firm to recover data, and the cost of hiring someone to remove viruses.
Professional liability insurance also offers protection for your Phoenix company in cases of errors and omissions, such as when evaluating security protections. Employment practices liability insurance in AZ helps protect your company in case of claims brought by your employers.
Full protection for your company includes a suite of insurance products, including general liability, that cover you in all eventualities. As a tech company, you are at even greater risk and need more coverage.
Call Smart Move Insurance today to talk about the insurance products your Arizona tech start-up or business needs. By choosing the right insurance products, you’ll give your business a chance at a bright future.