CFC vs Risklytics: How Do They Compare for Tech E&O Insurance?

CFC publishes a maximum errors & omissions/media/cyber limit of $10,000,000 and a maximum commercial general liability limit of $6,000,000 for this product, with a minimum deductible of $0. ²Company-reported. Brochure 'Limits and deductibles' table; the limit and deductible on an individual policy's declarations control.

Risklytics lists a typical ask of $1 million to $5 million per claim for this line. ⁵Company-reported. Lines page; actual limits are set on the bound policy.

CFC says the Technology product is suitable for start-ups, mid-size and multinational tech companies, without publishing a specific revenue or headcount cutoff on the product page. ¹Company-reported. Technology product page introduction; actual eligibility for a given applicant depends on underwriting review of the application.

Risklytics says enterprise customers usually require this coverage in procurement before signing a first customer contract, and that it becomes relevant once a customer relies on a model's output. ⁵Company-reported. Lines page.

The US Technology application asks for company revenue by year, funding-round history, subcontractor and hosting arrangements, and whether multi-factor authentication is enforced for remote network access and email; it is returned to your insurance broker. ^3,1Company-reported. Application form Sections 1, 2 and 4; CFC also lists Connect and named API partners as digital trading channels on the product page, which may bypass a paper application for some brokers.

You start Risklytics Professional Liability (Tech E&O) Insurance through Risklytics' online application. Risklytics says there is no broker fee on top of the premium and a licensed producer stays on the file until the program binds; its commission is paid by the carrier out of the premium either way. ^7,6Company-reported. Pricing page describes the general application and fee process, not a line-specific form.

CFC describes coverage for financial loss, bodily injury or property damage arising from a technology company's products and services, plus legal liability for breach of client contracts and IP infringement claims such as copyright and trademark disputes. ²Company-reported. Product brochure feature descriptions; exclusions and conditions are set by the policy wording, which was not reviewed.

The cyber portion of the policy includes network and privacy liability, business interruption, data rectification and recreation costs, extortion cover, and social engineering coverage, sitting inside the same Technology package rather than as a separate purchase. ²Company-reported. Product brochure 'Comprehensive cyber cover' section.

Risklytics describes Tech E&O as responding when a company's product or service costs a customer money, such as a perception model mislabeling shipments or an integration error corrupting order data, and distinguishes it from cyber liability, which covers hacks and data leaks rather than a model's own faulty output. ⁵Company-reported. Lines page; the issued policy and declarations control actual coverage.

CFC's Technology product is a single package policy for technology companies that bundles errors & omissions liability, breach-of-contract cover, IP infringement and media liability, and cyber cover. ^1,2Company-reported. Technology product page and US product brochure; the policy as issued controls the exact scope for any one customer.

Risklytics Insurance Services is a licensed insurance producer (NPN 22311838) that places Risklytics Professional Liability (Tech E&O) Insurance with outside carriers; it says it does not underwrite policies itself. ⁶Company-reported. About page; describes Risklytics' brokerage model generally, restated for this line.

Policyholders get access to CFC's incident response service at a $0 deductible, sitting on a limit separate from the main policy limit, plus a free app with dark web monitoring, phishing simulations and network deep scanning. ²Company-reported. Brochure 'Market leading cyber incident response' and 'Response app highlights' sections; CFC calls its incident response team one of the largest in-house teams in the industry, a characterization not independently verified here.

Risklytics calls Tech E&O the hardest line to get right because some insurers are quietly excluding AI-related losses, and says it reads every policy form for AI exclusions before it binds. ⁵Company-reported. Lines page.