Doc Summary
IT and technology businesses can have professional, product, cyber and general business exposures.
IT Liability Insurance commonly combines Professional Indemnity Insurance with Public and Products Liability Insurance for technology businesses.
What can IT Liability address? #
The Professional Indemnity component may respond to certain claims alleging financial loss arising from:
- IT advice
- Software
- System implementation
- Configuration
- Technology projects
- Other insured professional services
The Public and Products Liability component may respond to certain claims involving:
- Third-party personal injury
- Third-party property damage
- Technology products or hardware supplied by the business
What other insurance can be relevant? #
Depending on the business:
- Cyber Insurance
- Business Insurance
- General Property cover for portable equipment
- Management Liability Insurance
- Workers Compensation where applicable
- Commercial Motor Insurance
- Corporate Travel Insurance
The appropriate insurance depends on the actual services, systems accessed, products supplied, business structure and contractual requirements.
Activities such as software development, hosting, cybersecurity, hardware supply and managed services should all be accurately disclosed.
Contact our team if you would like help reviewing the insurance requirements of an IT business.
