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Call Center Insurance

Call centers are an essential part of many businesses, providing a platform for customer service, sales, and support. However, with the increasing number of interactions between call center agents and customers, there is also an increased risk of liability. 

Call center insurance is a type of coverage that provides protection against different types of risks that could occur in a call center environment. It is a necessary investment for any business that operates a call center, regardless of size or industry.

Who Needs Call Center Insurance?

Any business that operates a call center should consider investing in call center insurance. This includes businesses that provide customer service, sales, technical support, or any other type of call center operation. 

The types of businesses that commonly require call center insurance include financial institutions, healthcare providers, and insurance companies. This type of insurance can also be beneficial for businesses that outsource their call center operations to third-party providers.

The risks associated with call center operations are vast and varied. Call center insurance can protect businesses against risks such as data breaches, cyberattacks, personal injury claims, and errors and omissions. 

It is crucial to keep in mind that call center insurance is not a one-size-fits-all solution, and the coverage needed will vary depending on the type of operation and specific risks involved.

Types of Call Center Insurance

There are several types of call center insurance coverage that businesses can consider. The most commonly purchased policies include:

Cyber Liability Insurance

Cyber liability insurance provides coverage against risks associated with data breaches and cyberattacks. This type of insurance can help cover the costs associated with notifying customers, hiring forensic experts, and providing credit monitoring services.

Errors and Omissions Insurance

Errors and omissions insurance provides coverage for claims arising from errors or omissions committed by call center agents. This could include mistakes made during a call, such as providing incorrect information or failing to follow proper procedures.

General Liability Insurance

General liability insurance offers protection for claims of bodily injury or property damage that occur on business premises. This type of insurance can also provide coverage for advertising and personal injury claims.

Workers’ Compensation Insurance

Workers’ compensation insurance provides coverage for employees who are injured while on the job. This type of insurance can help cover medical expenses, lost wages, and other costs associated with workplace injuries.

How Much Does Call Center Insurance Cost?

The cost of call center insurance will depend on the type of coverage needed and the specific risks involved. Generally, call center insurance policies are affordable and can be tailored to meet a business’s specific needs.

The cost of coverage will also depend on the size of the call center operation and the number of employees.

Businesses can work with insurance providers to determine the appropriate coverage needed and to obtain quotes for the cost of coverage. 

Call Center Insurance Requirements

The requirements for call center insurance are different depending on the industry and location of the business. Some industries, such as healthcare and financial services, may have specific regulations that require businesses to carry certain types of insurance coverage. 

It is essential to research the specific requirements for the industry and the location of the business to ensure that the appropriate coverage is in place.

Call center insurance requirements may be included in contracts with third-party providers. If a business outsources its call center operations, they should review the contract to ensure that the third-party provider is carrying the appropriate insurance coverage.

Commercial Insurance And Business Industry Classification

  • SIC CODE: 7389 Business Services, Not Elsewhere Classified
  • NAICS CODE: 561422 Telemarketing Bureaus and Other Contact Centers
  • Suggested Workers Compensation Code(s): 8810 Clerical Office Employees NOC

Call Center Insurance – Bottom Line

Call center insurance is a necessary investment for any business that operates a call center. It provides protection against the many risks associated with call center operations, including data breaches, cyberattacks, personal injury claims, and errors and omissions.

You can benefit a lot from taking out an insurance policy for your business. Get an insurance quote and call us if you have more questions. Take care of your tomorrow today.

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