What does Computer Software Design Errors and Omissions mean? Read on to discover the definition & meaning of the term Computer Software Design Errors and Omissions - to help you better understand the language used in insurance policies.
Computer Software Design Errors and Omissions
Provides professional liability coverage for computer software designers, analysts, and consultants to cover errors in programs or in systems design. This coverage is often written as part of a package policy arranged for computer firms. The policies, which are provided on a claims-made basis, cover financial losses that result from an insured's negligence. For example, coverage would apply if a software designer's e-commerce program contained a security glitch that allowed hackers to purchase goods with expired credit cards.
We hope the you have a better understanding of the meaning of Computer Software Design Errors and Omissions.