There is no single insurance requirement applying to every IT Professional in Australia.

However, insurance requirements are common in:

• Client contracts
• Tenders
• Supplier panels
• Government procurement
• Subcontracting arrangements
• Particular regulated or higher-risk industries

What insurance requirements can appear? #

Examples include:

• Professional Indemnity Insurance
• Public and Products Liability Insurance
• Cyber Insurance
• Workers Compensation where applicable
• Minimum limits
• Certificates of Currency
• Run-off or continuing Professional Indemnity requirements
• Territorial or jurisdiction requirements
• Subcontractor insurance requirements

Government, healthcare, financial services, defence and critical-infrastructure clients can also impose detailed contractual requirements concerning security, privacy, business continuity and incident notification.

Does meeting the insurance requirement mean the entire contract is insured? #

No.

A contract can also contain:

• Broad indemnities
• Performance guarantees
• Liability for consequential loss
• Unlimited liability provisions
• Warranties
• Obligations that extend beyond the insurance policy

Webber Insurance can provide a high-level insurance review of contract requirements and can refer clients for a legal contract review, including the insurance and indemnity provisions. We do not provide legal advice.

Contact our team before signing a contract containing unfamiliar or significant insurance requirements.