Can I claim coverage for expenses incurred to reduce financial losses?
Preventive actions can sometimes involve unexpected costs.
- Loss mitigation
Covers expenses to minimise client losses.
Reimbursement for proactive steps to address risks.
If you've incurred costs to reduce a client's financial loss, inform your insurer about the situation. Many Tech E&O policies reimburse reasonable expenses spent to prevent larger claims. Ensure you document all costs clearly for smooth processing.
Back to Insurance 101What should I do if a regulator sends me a notice?
The policy helps with regulatory notices and responses.
What steps should I take if a client sends me a legal notice for not delivering on a project?
The policy helps address disputes involving the insured person (D&O) effectively.
What should I do if I am accused of breaking anti-trust laws?
The policy helps with anti-trust allegations and defence.
What should I do if I'm accused of any kind of wrongdoing?
The policy supports defence against broad accusations.
What does it mean if shareholders file a lawsuit on behalf of the company (derivative action), and how should I deal with it?
The policy provides coverage for shareholder claims.
What should I do if shareholders file a class-action lawsuit against the Board?
The policy provides support for shareholder class-action cases.
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