What Are the Key Differences Between Gallagher and The Hartford Tech E&O Insurance?
One Insurer's Priced Product vs a Broker-Shopped Combined Policy
The Hartford issues FailSafe itself for software and IT specialists, hardware and electronics makers and telecom providers, and says tech E&O typically costs $500 to $1,000 per employee a year. Gallagher places technology E&O with outside insurers and says it works with over 7,500 tech and telecom clients, from startups to global enterprises, but publishes no prices or limits. Choose The Hartford if you're a small tech firm that wants a known insurer and a budget figure; choose Gallagher if you're larger or want a broker comparing several insurers. [3] [7]
Cyber Bundled at Gallagher, Sold Separately at The Hartford
Gallagher's policy pairs professional-services errors with cyber cover for breaches, ransomware and privacy events. FailSafe lists E&O, security, data privacy and network security, personal injury, IP and media liability, but The Hartford sells cyberattack and data-leak cover as a separate product, so you'd buy two policies. [3] [7]
What Should You Confirm in Gallagher and The Hartford Tech E&O Insurance Quotes?
- Ask Gallagher which insurer issues the combined policy and whether E&O and cyber share a limit. [3] [7]
- Check that FailSafe's IP and media parts are on your Hartford quote, and ask Gallagher whether IP is covered. [7] [3]
- Get limits and retentions from both, and ask whether defense costs reduce the limit. The Hartford says price depends on location, headcount, limits and lawsuit history. [3] [7]
- Ask Gallagher whether its Drive, Go, Submit and Verify tools come with the placement. [3]