Insurance Requirement Provisions in Technology Contracts: Mitigating Risk, Maximizing Coverage

Insurance is one of the most overlooked aspects of a technology contract, leaving customers vulnerable to uninsured risks. Contracts for IT services or software development should require one or both parties to purchase minimum levels of insurance to cover the risk of reasonably foreseeable losses.

There are several different types of insurance contracting parties should consider when negotiating technology contracts, including commercial general liability, E&O coverage, automobile liability, cyber liability and more. Counsel must understand the different types of insurance appropriate for various scenarios, how each provision works within the contract, and when and how to negotiate individual and aggregate limits based on the types of risks involved.

Listen as experienced technology attorney Robert Scott explains best practices for drafting insurance requirement provisions in technology contracts. He will discuss considerations for evaluating the appropriate type and amount of insurance coverage and when negotiating insurance provisions in contracts for IT services or software development.

1. Evaluating the different types of insurance coverage appropriate for technology transactions
2. Negotiating insurance provisions

The panelist will review these and other critical issues:

• Insurance provisions that are key to properly allocating risk in technology contracts
• Whether specialty insurance is necessary to protect against certain losses
• Considerations for counsel when evaluating insurance coverage and negotiating insurance provisions