Question 1

What insurance do Maryland tech startups need?

Accepted Answer

Maryland tech startups need workers' comp (required at 1+ employee), E&O / professional liability ($1M–$5M is standard), cyber liability, and general liability. Venture-backed companies also need D&O. Federal contractors and cybersecurity firms typically need higher limits and endorsements that align with DFARS 252.204-7012 and NIST 800-171 obligations. RISKX maps your customer and funding contract language to coverage that actually satisfies the flow-down requirements.

Question 2

How much does cyber insurance cost for MD tech companies?

Accepted Answer

Maryland cyber liability typically costs $2,500–$8,000/year for $1M in coverage. Pricing depends on revenue, records stored, security controls (MFA, endpoint detection, SOC 2), and claims history. Firms touching federal CUI, PHI, or classified-adjacent data pay more because the regulatory response is more complex. A 50-person Maryland SaaS company often pays $4,000–$7,000/year; cybersecurity firms selling services to other companies typically pay more due to E&O/cyber overlap.

Question 3

Do Maryland federal contractors need specific insurance?

Accepted Answer

Yes — federal prime contracts routinely flow DFARS 252.204-7012, CMMC, and NIST 800-171 cybersecurity obligations into subcontractor agreements. Cyber policies should include regulatory defense, forensics, and breach notification that can support a federal incident response. Many primes also require minimum E&O limits ($2M–$10M), D&O, and specific additional-insured language. RISKX reviews federal subcontract insurance schedules so there are no gaps when you submit your compliance documentation.

Maryland Technology Insurance | RISKX