technology errors and omissions insurance (Tech E&O)
Intended to cover two basic risks: (1) financial loss of a third party arising
from failure of the insured's product to perform as intended or expected, and
(2) financial loss of a third party arising from an act, error, or omission
committed in the course of the insured's performance of services for another.
Some commentators describe the interplay between CGL and Tech E&O insurance
as providing "hand-in-glove" insurance protection; while there might be some
overlap in coverage, as far as product failure goes, there should not be any
gaps between the coverage.