.png){kind=icon}
Fedelta Insurance Marketing & Services Private Limited is an IRDAI Licensed Insurance Intermediary Firm with expertise in commercial, personal, employee-benefits and specialty lines of insurance contracts. We are associated with multiple Insurers such as HDFC ERGO General, ICICI Lombard General, Max Life Insurance, Niva Bupa and more We offer end to end service to our clients. We not only help in educating our clients on the various business / personal risks and the appropriate Insurance solutions but also take pride in serving clients post sales and assist them through claims, if any.
Fedelta Insurance Marketing & Services Private Limited.
Tech E&O is designed to cover the financial loss to a company’s customer as a result of an error or omission in the service or product supplied to the customer. Tech E&O is a subset of Miscellaneous Professional Liability specifically tailored to address the unique exposures presented by technology companies. It is likely that a technology provider will, by contract, need to supply evidence of E&O coverage. It is critical that everyone involved in the insurance purchase decision understand what the company actually does. The best method to truly understand a company is to “follow the money”. How is the company generating revenue? For instance, an outsourced data center may lease or sell the equipment itself, but the margins are very small on this service. The bulk of revenue generated is from making that equipment available for their customers as an outsourced network, and so should be the focus of the E&O coverage.
A distinction should be made between the makers and manipulators of technology and the end- users. Nearly all businesses use a network, but Tech E&O is not appropriate unless the company is generating revenue directly from that network (i.e, digital payment processors, network supply services, etc.)