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What types of insurance do IT project managers need?
These policies provide coverage for common risks of IT project management.
General liability insurance
These policies provide coverage for common risks of IT project management.
BEST FOR
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Slip-and-fall accidents
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Damaged customer property
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Libel or slander lawsuits
Errors and omissions insurance
Technology errors and omissions, or E&O insurance, is popular with IT project managers. It can cover legal fees of lawsuits related to work performance.
BEST FOR
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Work mistakes
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Missed deadlines
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Accusations of negligence
Cyber liability insurance
This policy helps IT project managers survive data breaches and cyberattacks by helping to pay for recovery expenses, client notification, and other related costs.
BEST FOR
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Data breach lawsuits
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Client notification expenses
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Fraud monitoring costs
Workers’ compensation insurance
Workers’ compensation insurance is required in almost every state for IT project management businesses with employees. It can cover medical fees for work injuries.
BEST FOR
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Employee medical expenses
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Missed wages
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Legal costs
w mucHoh does technology business insurance cost?
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Several factors will have an impact on insurance costs, including:
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Project management services offered
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Business equipment and property
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Revenue
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Location
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Number of employees
Why do project managers need insurance?
IT project managers are responsible for the success of a project. When a client sues over a missed deadline or poor results, errors and omissions insurance can cover your legal fees. Other policies cover unexpected costs from injuries, data breaches, and damage to business or client property.
