Not necessarily.

Professional Indemnity Insurance generally addresses certain claims alleging that professional advice or services caused financial loss.

IT Liability Insurance is designed specifically for technology businesses and can combine Professional Indemnity with Public and Products Liability cover under one technology-focused policy.

Why can a combined policy be useful? #

Technology claims do not always fit neatly into one category.

For example, a claim involving:

• Software
• System implementation
• Configuration
• Hardware
• Installation
• Technology advice

can involve both professional services and technology products.

Depending on the wording, IT Liability Insurance can cover activities such as:

• IT consulting
• Software development
• Software implementation
• Managed IT services
• Technical support
• Hardware supply
• Hardware installation

Does IT Liability replace Cyber Insurance? #

Not automatically.

Cyber Insurance generally addresses risks such as:

• Data breaches
• Cyber incidents
• System interruption
• Incident response
• Cybercrime

These exposures can require separate Cyber Insurance.

If a client contract specifically requires Professional Indemnity Insurance, the IT Liability policy should also be checked against the contract’s definition, required limit and other insurance requirements.

Contact our team if you need help comparing IT Liability, Professional Indemnity and Cyber Insurance.