A D&O tail policy extends the insurance coverage for directors and officers beyond the policy’s expiration. This coverage is crucial during mergers, acquisitions, or ownership changes, protecting leaders from lawsuits over past actions. By understanding how a D&O tail policy…
A tail policy is one of the most important risk management tools for a SaaS company approaching an exit. Every founder’s mission is pretty much the same: gain some early traction, scale rapidly, and seize an exit opportunity. Unicorns are…
Business insurance for SaaS companies helps founders protect their investors, clients, employees, property, and the company from liability and lawsuits as their SaaS expands. What type of insurance do you need, when, and why? The following list covers the most…
A D&O claim can cost your SaaS company millions, or even tens of millions of dollars in damages. A recent report by the trade journal Business Insurance indicates that D&O claims are becoming more and more prevalent. When leading a SaaS…
E&O is a type of professional liability insurance. It protects your company if mistakes and oversights occur. Since mistakes and oversights are more likely to occur during periods of rapid growth and extensive innovation, E&O insurance is important. The risk…
As a SaaS company, you are likely aware of the cyber threats that are out there. Hackers are always looking for new ways to gain access to your data, and if they succeed, it can be disastrous for your business.…
Cybercriminals are increasingly targeting cloud-based tech companies as their popularity grows. SaaS companies collect and store data from thousands, if not millions, of clients, making them extremely vulnerable to cyber assaults. Traditional business insurance doesn’t cover claims caused by cyber…
Blackbaud, a SaaS company, was attacked by ransomware in May 2020, after which it successfully prevented the cybercriminal from blocking access to its system and fully encrypting files, forcing the intruder to flee. The attacker took a copy of a…