The exposure of Error & Omissions is a growing concern for technology consultants and vendors whether it arises from their services or products (hardware & software). This is a liability product the ultimate benefit of which would accrue to a third party that has incurred damage due to products or negligence of a tech vendor / consultant.

At the other end, users of tech products and services may also incur losses due to a growing infestation of cyber-crimes or crimes committed using Internet as the medium. Losses need not arise only when a firewall has been breached & crime has been committed. Even in regular operations, something could go wrong that results in business down time (or business interruption losses), confidential customer data mistakenly released, expenses associated with recovery of lost data, etc. Such exposures come under Cyber Insurance. This type of product would provide protection to both insured as well as a third party. Hence, there is some overlap with Tech E&O present in Cyber Insurance as well.

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