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Oracle RMS Insurance

Technology & SaaS Insurance

Industry Insurance — Oracle RMS Insurance

Technology & SaaS Insurance

Insurance programs for software companies, SaaS platforms, IT consultants, and technology businesses across Canada.

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Technology companies and SaaS businesses face a distinct set of risks — software failures, data breaches, intellectual property disputes, and the professional liability that comes with providing technology services and products to clients. Standard commercial policies were not designed for these exposures. Oracle RMS structures technology insurance programs that combine tech E&O, cyber liability, and commercial coverage into a cohesive program for software companies, IT consultants, and digital businesses.

Who needs this coverage?

Software developers, SaaS companies, IT consultants, managed service providers (MSPs), cloud service providers, app developers, digital agencies, data analytics firms, and any business that provides technology products or services to clients.

Key coverages

  • Technology errors & omissions (Tech E&O)
  • Cyber liability and data breach
  • Commercial general liability
  • Directors & officers
  • Intellectual property liability
  • Media liability
  • Commercial property (hardware, servers)
  • Business interruption
  • Employment practices liability

Frequently Asked Questions

What is technology E&O insurance?
Technology E&O (errors and omissions) covers claims arising from failures in your technology products or services — software bugs, system outages, data loss, or failure to deliver promised functionality. It combines professional liability and product liability for technology businesses.
Does a SaaS company need cyber insurance?
Yes. SaaS companies store and process customer data, making them prime targets for cyberattacks. A data breach or ransomware attack can result in significant costs for breach response, regulatory fines, and customer claims. Cyber liability is essential for any SaaS business.
What is the difference between tech E&O and cyber liability?
Tech E&O covers claims arising from failures in your technology products or services. Cyber liability covers the costs of a data breach or cyberattack — forensics, notification, ransomware, and business interruption. Many technology companies need both.
Do technology startups need D&O insurance?
Yes, especially if you have investors, a board of directors, or are seeking venture capital. Investors often require D&O coverage as a condition of investment. It protects your founders and directors from personal liability for management decisions.
How are technology insurance premiums calculated?
Premiums are based on your annual revenue, the type of technology you provide, the sensitivity of data you handle, your security practices, and your claims history. Companies with strong cybersecurity controls typically qualify for better rates.

Ready to review your coverage?

Speak with a licensed broker at Oracle RMS — by phone, video, or in person. We serve businesses across Canada.*

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* Commercial insurance services available across Canada, excluding Quebec.