Software company and SaaS business insurance in North Carolina

What insurance does a NC software company need?

Core coverages include: technology E&O (covering claims from software products and services); cyber liability (covering data breaches and network security failures in your own systems); product liability (if distributing commercial software); GL; commercial property; and workers comp for employees. For SaaS companies, the cyber and tech E&O programs are particularly critical.

What is tech E&O for software companies?

Technology E&O for software companies covers claims arising from the failure of your software or technology services, a software defect causing customer data loss, a platform outage causing customer business interruption, or a software product that does not perform as represented. It covers both defense costs and settlements.

What cyber liability do NC software companies need?

Software companies and SaaS providers maintain customer data and operate infrastructure that, if breached, can affect many clients. Cyber liability covers breach response costs, customer notification, regulatory defense, and business interruption from cyber events. The scope of a software company's cyber exposure often warrants higher limits than other businesses.

Do NC software companies need product liability?

If distributing commercial software (licensed or SaaS), product liability covers claims arising from the software product itself as distinct from professional service errors. The line between tech E&O (service errors) and product liability (product defects) can blur in software, having both ensures coverage regardless of how a claim is framed.