
Ask HN: E&O and Cyber Liabilty Insurance - trich
We&#x27;re selling fintech to Enterprises and they insist on us having E&amp;O and Cyber Liabilty Insurance. Any good recommendations for insurance companies?
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brudgers
It's might be worth looking for an insurance agent rather than a particular
insurance company. Particularly if you are in an area like Silicon Valley
where there are insurance agents familiar with the types of policies you're
looking for.

Having an agent gives you a point of contact when you need a binder listing a
client company as a named insured. Which is typical for General Liability. The
agent can also provide documentation for Worker's Comp coverage too.

Finally, an agent helps find alternatives when there are changes at renewal
time...every year. The agent is a _person_ with whom you can have a business
relationship. Business insurance quickly becomes non-fungible once you get
beyond General Liability.

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davismwfl
Glad you added this, I meant to put it in my first comment, but getting an
agent to go through options and different providers is really critical because
risk profiles differ across providers. The SIC code & any products/services
offered really can change which company is best for a specific instance.

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davismwfl
I use Hartford still. There are others of course, Hartford just has always
been reliable with fair pricing as well as a good rating.

And be glad they are demanding you have it. It’ll save your ass if something
goes sideways.

Cost wise will depend on your limits but expect to spend $600-1200 on base E&O
depending on your company risk profile. General liability is usually lower.
And cyber can be cheap to crazy depending again on risk profile.

Price goes up as limits and risk increases of course (they should have told
you what they expect). Generally always get quotes for multiple limit levels.
I found out going from $1m to $2m annual was a small increase in premium so
took the increase in limits.

