"Software developers and development firms have a unique mix of liability risk," remarked
About General Liability
Software developer general liability insurance is commercial coverage that helps protect the company against surprise events or accidents. General liability is best known for providing bodily injury and property damage coverage. This means that if a person is physically injured or personal property is damaged, and the software developer is blamed for those injuries or damages, their general liability policy will help them by paying for legal defense costs, and paying settlements if awarded by a court.
General liability insurance for software developers also provides protection if the company is accused of slander or libel, or if they're accused of infringing on intellectual property in their advertisements. It provides similar levels of protection if the firm is accused of causing property damages to buildings or structures that they rent or lease.
About Professional Liability
Software developer professional liability insurance is also known as E&O coverage, or Errors and Omissions. This is commercial insurance that helps mitigate risks and losses caused by professional mistakes and negligence. If a software development firm is accused of causing financial losses and damages to a client because of professional errors, then the general liability policy will not provide coverage. Instead an Errors and Omissions policy is needed. This coverage provides legal assistance by paying for standard costs associated with defending yourself in court. If the software developer losses the court case, this coverage can also pay for any settlements that may be awarded in court.
For more information, visit http://www.businessinsuranceusa.com.
Read the full story at http://www.prweb.com/releases/2014/07/prweb12013261.htm
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