As most web programmers know, General Liability insurance is a must for professionals who are responsible for creating or modifying scripts and code to be used online, However, many programmers aren’t aware that even with General Liability, there are certain risks that they are still not protected from.
Web programming requires not only the ability to code and create web applications that function as expected, but also the patience to thoroughly test the application before deployment,and the diligence to be continuously aware of current hacking methods.
These common situations can easily create financial vulnerabilities for web programmers:
- A period placed incorrectly in a math formula could cause incorrect dollar amounts to be charged on a customer’s e-commerce site.
- Your code may not prevent SQL Injection, meaning the data your code retrieves is susceptible to deletion or viewing by unauthorized parties.
- An accidental button click or syntax error could alter a web page, causing your customer’s site to not function and cause them financial loss.
These situations, while not covered by General Liability, are all examples of what would be covered by a Technology E&O Policy. Simply put, General Liability offers coverage for claims that involve injury to a person’s body, damage to property, and personal or advertising injury (such as slander or defamation of character). Technology E&O, on the other hand, covers claims related to mistakes made while a service was being provided that resulted in financial loss or damage.
It’s critical for a web programmer to have both types of policies. Both policies and peace of mind can be had for as little as $110/month or a total of $1100, a small cost for complete financial coverage.
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