IT Liability Insurance commonly combines Professional Indemnity and Public and Products Liability cover for technology businesses.

The exact structure and cover vary between insurers.

Professional Indemnity #

The Professional Indemnity section may respond to certain claims involving:

• Software or coding errors
• Configuration errors
• Failed system implementations
• Incorrect technology advice
• Project delays
• Data loss arising from insured professional services
• Technology products or services failing to perform as intended
• Certain intellectual property allegations
• Financial loss allegedly caused by professional services

Depending on the wording, defence costs and insured compensation can also be covered.

Public and Products Liability #

This section may respond to certain claims involving:

• Third-party personal injury
• Third-party property damage
• Products supplied or installed
• Activities undertaken at client premises

What about Cyber Insurance? #

IT Liability should not automatically be treated as a substitute for Cyber Insurance.

Cyber Insurance is generally structured around cyber incidents affecting the insured business’s own systems, operations or information, together with certain third-party cyber liabilities.

Contact our team if you would like help reviewing the cover applying to your technology business.