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Technology Company Insurance Specialists Who Understand Your Unique Risks - The Allen Thomas Group
Technology companies face unique risks that generic insurance agents simply don’t understand.
Data breaches cost an average of $4.88 million, while 73% of small businesses were targeted by cyberattacks in 2022.
The Allen Thomas Group specializes in technology errors and omissions insurance and cyber liability insurance for:
- Software developers
- AI companies
- Cybersecurity firms
With over 20 years of specialized experience, we make protecting your innovative business smart and easy.
Ready to protect your tech company?
Get your free quote now.
Table of Contents
Our Commercial Insurance Agents Craft Policies To Protect The Following Technology Companies
- Computer security & cyber companies
- Data management companies
- Information technology consulting companies
- Nanotechnology
companies - Robotics companies
- Systems integration specialist companies
- Software development companies
- Tech startups
- Web design companies
- Web development companies
Specialized Technology Insurance Expertise That Protects Your Business Growth
Most insurance agents treat technology companies like any other business. We don’t.
The Allen Thomas Group has spent over two decades mastering the complex risks facing:
- Software developers
- Artificial intelligence companies
- Cybersecurity firms
Here’s what makes us different:
Technology errors and omissions insurance requires deep industry knowledge.
When a software bug causes your client to lose $100,000 in revenue, or when your AI algorithm produces biased results leading to discrimination claims, you need coverage designed specifically for these scenarios.
Our specialized expertise covers:
- Software development liability and coding error claims
- AI company insurance for algorithm failures and bias issues
- Cybersecurity firm coverage including professional liability
- Data breach coverage with incident response support
- Intellectual property protection for innovative technologies
The numbers tell the story:
Technology companies pay an average of $67 per month for proper tech E&O coverage, but generic agents often leave dangerous gaps.
We ensure comprehensive protection that grows with your business.
Common types of Business insurance do Tech Companies Usually Need
These common insurance policies cover most risks for technology firms we work with
Commercial General Liability Insurance
Tech companies can benefit from commercial general liability insurance, which protects against claims of bodily injury, property damage, and advertising injury. This type of insurance can also cover legal fees and settlements. It is important for tech companies to have this coverage, as they may face unique risks such as cyber liability and intellectual property infringement.
Professional Liability Insurance
This type of insurance covers claims of negligence, errors, or omissions in the services or products provided by the company. It can also cover legal fees and settlements in the event of a lawsuit. Having professional liability insurance can provide peace of mind and protect the company’s reputation in the event of a claim.
Commercial Umbrella Insurance
This type of insurance can protect against costly lawsuits and damages that may exceed the limits of standard policies. It is important for tech companies to consider the potential risks they face and to ensure they have adequate insurance coverage to protect their business and assets.
Cyber insurance
This type of insurance can cover the costs of data breaches, cyber attacks, and other related incidents. It can also provide access to resources such as legal and technical support. Cyber insurance can be a valuable investment for technology companies looking to mitigate the risks associated with operating in the digital age.
Business owner's policy
This type of policy typically includes general liability, property damage, and business interruption coverage, as well as protection for data breaches and cyber attacks. By bundling these coverages into one policy, technology companies can save money and simplify their insurance needs.
Workers' Compensation Insurance
This insurance can help protect businesses from costly lawsuits and medical expenses, while also providing support for employees during their recovery. It is important for tech companies to understand the specific risks and needs of their industry when selecting a workers’ compensation insurance policy.
Our Smart & Easy Process for Technology Company Insurance
Step 1: Risk Assessment
We analyze your specific technology risks, from software vulnerabilities to AI liability exposures.
Our team understands emerging threats like:
- Quantum computing risks
- Deepfake liability
- Algorithm bias claims
Step 2: Customized Solutions
We leverage our excellent carrier relationships to create tailored coverage.
Whether you’re a tech startup or an established enterprise, we design protection that fits:
- Your innovation timeline
- Your growth plans
- Your specific risk profile
Step 3: Ongoing Protection
Technology evolves rapidly. We provide proactive coverage management, ensuring your insurance keeps pace with:
- New products and services
- Emerging risks in your sector
- Changing compliance requirements
No complex insurance jargon. No endless paperwork. Just smart protection that makes sense.
Specialized Knowledge You Won’t Find Elsewhere
Generic insurance agents might understand basic business coverage, but they don’t grasp the nuances of software liability, AI governance risks, or cybersecurity professional liability. We do.
Our specialization includes:
- Software development companies facing coding error claims
- AI companies navigating algorithm bias and decision-making liability
- Cybersecurity firms protecting against professional negligence claims
- Tech startups requiring investor-grade coverage requirements
Local Expertise, National Reach
Based in Akron, Ohio, we combine local accessibility with national carrier relationships across 20+ states.
You get personalized service from agents who understand your business, backed by the best technology insurance carriers in the industry.
Beyond Generic Business Insurance
Technology companies need more than standard commercial coverage.
Critical infrastructure faced 420 million attacks between 2023-2024, representing a 30% increase.
We provide comprehensive protection including:
- Technology errors and omissions insurance for professional mistakes
- Cyber liability coverage for data breaches and system failures
- Business interruption protection for technology outages
- Intellectual property coverage for patent and copyright claims
The reality: Most business insurance policies exclude the very risks that threaten technology companies most. We fill those gaps.
Trusted by Software Developers, AI Companies, and Cybersecurity Firms
“The Allen Thomas Group understands technology risks that other agents don’t even know exist.”
We’ve protected technology companies through major industry transitions:
- From the rise of cloud computing
- To today’s AI revolution
Our clients include:
- Software development firms creating SaaS products and custom applications
- Artificial intelligence companies developing machine learning solutions
- Cybersecurity firms protecting other businesses from digital threats
- Tech startups scaling from early funding to enterprise customers
Our Smart & Easy approach means:
- Responsive service when you need claim support or coverage questions
- Proactive updates as new technology risks emerge
- Competitive rates through our specialized carrier relationships
- Peace of mind knowing experts handle your protection
Whether you’re launching your first product or scaling to enterprise level, we ensure your insurance keeps pace with your innovation.
Tailored Technology Insurance Solutions Built For Your Company Even If It Is Just A Start Up
We know how frustrating and complex the process of finding the right commercial insurance can be and how it slows down your ability to take care of your customers. Let us help engineer a policy that works for you.
Tell us about your specific needs and we will find the right policy for you.
Review the results of our search.
We will walk you through your new policy step by step.
Lets Build A Scalable Insurance Package For Your Tech Company
It Just Takes A Few Clicks
We’ve helped thousands of Technology Companies Just Like You
Our Commercial Insurance Carrier Partners
That allows us to find the best rates for your technology company.
Secure Your Technology Company's Future Today
For over 20 years, The Allen Thomas Group has protected technology companies with specialized technology errors and omissions insurance and cyber liability coverage.
Our excellent carrier relationships and deep tech industry knowledge ensure comprehensive protection that generic agents simply can’t match.
Don’t let inadequate coverage threaten your innovation. Get your free technology insurance quote today.
Get More Insights On Making The Right Insurance Decision For Your Tech Company
How much does technology company insurance cost?
Technology errors and omissions insurance averages $67 per month for most tech companies, while cyber liability coverage typically costs $145 monthly. However, our specialized expertise often secures better rates through our excellent carrier relationships. Generic agents frequently miss discounts available to technology companies with proper risk management.
What's the difference between specialized tech coverage and generic business insurance?
Generic business insurance excludes the risks technology companies face most: software liability, AI algorithm errors, cyber attacks, and intellectual property claims. Our specialized coverage protects against coding mistakes, data breaches, professional negligence, and emerging tech risks that standard policies won’t cover.
Which technology companies need specialized insurance coverage?
Software development companies, AI companies, and cybersecurity firms need specialized coverage due to unique liability exposures. If you handle client data, develop software products, or provide technology services, generic coverage leaves dangerous gaps. Even tech startups require investor-grade protection from day one.
How do I get started with technology insurance coverage?
Contact us today for a free consultation and quote. We’ll assess your specific risks, recommend appropriate coverage, and connect you with our specialized carriers. With cyber attacks increasing 30% annually and data breaches costing $4.88 million average, protecting your tech company can’t wait.
