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Business Insurance 101 For Saas/Tech Start-Ups

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- The article discusses the importance of business insurance for tech startups, especially in the context of challenges arising from the pandemic and recent financial crises. - It emphasizes three essential types of insurance: Errors and Omissions (E&O) Insurance for protection against claims of inadequate work; Directors and Officers (D&O) Insurance to safeguard personal assets of company leaders from lawsuits; and Cybersecurity Insurance to cover losses from cyber incidents. - E&O Insurance is particularly crucial for service-oriented businesses, while D&O Insurance is essential due to the increasing number of lawsuits against corporate leaders. - Cybersecurity Insurance is highlighted as vital for tech companies that manage sensitive data, especially given the rise in cyberattacks in recent years. - The article concludes with a brief overview of factors influencing insurance costs, such as business size, projected revenue, industry risks, and location, and promotes Plum’s customized insurance solutions for startups.