Every day, TechInsurance, the nation’s leading online provider of errors and omissions insurance, fields hundreds of questions from IT Project managers who need to know the basics of liability insurance. Some of them are unsure why they need it, others have questions specific to their active policies.

For the first time, TechInsurance has provided a central location where answers to these common questions, and more, can be discovered. Although you can always speak with a qualified insurance agent at TechInsurance, if you are looking for a quick answer to a common professional liability based question, the TechInsurance Small Business Center has you covered.

TechInsurance has been providing the resources that allow IT Project managers, whether they work for a firm or operate as an independent contractor, the tools to succeed at their jobs while remaining worry-free.

Contact TechInsurance today to get a free, no obligation quote on errors and omissions insurance. Our representatives are standing by to answer your questions.

The best way to avoid lapses in your errors and omissions insurance policies is to know the specific dates that your policy started and the definitive date of when it ends. There may be some nuances that determine whether your policy covers prior events in which case your inception date might be pushed back, but your insurance agent will be able to help you understand that better.

You must also remember to file the claim while the policy is still active. Even if the event occurred while the policy was active, if you let your coverage lapse and then you try to file a claim, in most cases, you will NOT be covered. A supplement to errors & omissions insurance is what is called “tail coverage.” This allows you to still make claims on a policy even if your coverage has lapsed. There are very few circumstances where you will ever want your policy to lapse, but if you do fall into that category, it will be essential that you append tail coverage to your policy. You can generally purchase this addition to last for anywhere between 1 and 5 years – speak to your insurance agent about the specifics.

For more information about avoiding lapses in your errors and omissions insurance policy, please visit the TechInsurance Small Business Center. Here you can find valuable information that will help with operating your small business, hiring contractors, & managing risk.

In today’s small business insurance environment, not everything that puts your company at risk is insurable. There are many things that your business owner’s policy just won’t cover and it is important to recognize these risks. There is usually a way to cover these risks, but they might fall outside of your existing policy. Often times, an umbrella policy might help to cover some of these outlying risks.

The first step is identifying what your current business insurance policy DOES cover. It is easier to work backwards by obtaining extra coverage for what your current policy doesn’t cover. Did you recently start using outside contractors to help your business get some work done? You might need some extra insurance to help cover you professionally for the work that was performed by the contractor but still presented to your client. There are a handful of other scenarios that I could rattle off, but it will be best to sit down with your insurance agent and discuss your specific coverage.

Sometimes there are certain occurrences that cannot be covered no matter what. It will be important to pay attention to these areas when interacting with clients and conducting every day business at the office. Just because a risk cannot be covered does not mean that the risk cannot be reduced.

Don’t get caught thinking that you are covered for a certain risk when in reality, you aren’t. Avoid surprises and contact your business insurance agent today!