Software Insurance from InsuringTech.com
The modern business environment has created tremendous opportunities for technologically-minded individuals, but it has also opened these professionals up to a wide range of liabilities. Fortunately, software insurance helps protect programmers from associated risks. Every day, new holes are found in operating systems and software. If you work designing, implementing, or even just using computer programs, you may need software insurance. In fact, even using traditional office equipment like a photocopier or fax machine can you put you at risk.
What is Software Insurance?
With the advent of Web 2.0, software is no longer confined to the machine of a single user, or a single office, making software insurance more complex, and more essential than ever. Cloud computing raises a host of issues, expanding software liability beyond its traditional physical boundaries. The widespread usage of computers for the keeping of important records means your business may be at risk for costly data breaches; database insurance protects you from the debilitating costs that result when a vulnerability in your system is exploited. Software development also has its own perils; failure to properly protect your company’s IPR (Intellectual Property Rights) can be catastrophic if another company claims infringement. Even unsubstantiated suits can consume enough time and financial resources that they can cripple a business’s development.
With the field developing so quickly, there are still many aspects of software liability that users are unaware of. One example of this is viruses. You can be held liable for the spread of a virus, even if you have no hand in the creation of that virus. Merely allowing the virus or malware to spread through your network makes you liable for software damage and the accompanying losses. Few software companies realize their liability if they fail to protect users’ data from viruses, but lack of awareness is not a viable defense if your users attempt to take you to court.
Nowadays nearly every business uses computers for their record keeping at the least. Whether you keep this data on your own computers or on external servers, you are responsible for maintaining the privacy and security of that data. What many don’t realize, is that databases of consumer information don’t exist only on computers. Fax machines and newer photocopiers have memory that may be storing customer data without you even realizing it. Database insurance helps protect you in the event there is any exposure of that data. Many states now require disclosure if records containing personal or private information are compromised in any way. The resulting interruption to business can be substantial and costly. With database insurance, your business could be insulated from the fallout of a breach.
Protect your business with software insurance: contact InsuringTech.com today for a quote!