Businesses that plan and design computer systems integrating hardware, software, and communication technologies (U.S. Census NAICS 541512), from a solo IT consultant to a managed services provider.
U.S. Census NAICS 541512: Computer Systems Design Services
What can go wrong for IT and computer services businesses?
- Work that causes a client a financial loss, which general liability does not cover.
- A data breach or ransomware event affecting client systems or data.
- A contract dispute over a project that did not perform as promised.
What insurance does an IT or computer services business need?
IT and technology businesses typically carry technology errors and omissions (professional liability) and cyber liability as the core coverages, because their biggest exposures are financial-loss and data claims rather than physical injury, plus general liability and workers compensation if staffed. General liability alone leaves the exposures these businesses actually face uncovered.
What does Georgia require?
If you hire staff, Georgia requires workers compensation at three or more employees (Georgia State Board of Workers Compensation, O.C.G.A. Sec. 34-9-2(a)(2)).
Source: Georgia State Board of Workers Compensation (O.C.G.A. Sec. 34-9-2(a)(2)).
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