Why you should buy Errors and Omissions Indemnity Insurance?
Errors and Omissions Indemnity Insurance is becoming an increasingly vital insurance for technology companies. Purchasers of IT are less tolerant of wasted expense and keen to blame their suppliers, whether or not their supplier is at fault.
Project disputes and high-value settlements are now not uncommon throughout Europe and the USA. For technology companies operating in these markets, this insurance is a 'must-have' for balance sheet protection. In India and across the globe Technology companies are demanding that their insurers deliver the right cover, backed by relevant expertise at fair prices.
IFFCO-Tokio General Insurance's Errors & Omissions (Technology) Policy has been specifically designed to safeguard the interests of IT/ ITeS suppliers, consultants and vendors operating in India against potential litigation due to failure of standard packaged software, deficiency in consultancy services leading to failed implementations and failure of managed/hosted services (BPO's) leading to delays, systematic errors, technology failures etc.