Ticking all your tech boxes with a tailored policy
Being at the forefront of innovation can expose technology and telecommunications companies to risks that aren’t covered by standard insurance policies. With Technology Insurance you can tailor the policy to your business – giving you the catch-all protection you need and ensuring you meet your contractual obligations.
What is Technology Insurance?
Technology Insurance provides specialist cover for anyone in tech or telecoms industry, from software, app and game developers to hosting and platform providers.
Your policy can include cover for professional indemnity and cyber risks such as data loss, hacking and corporate espionage.
You can also add cover for public and products liability, employer’s liability, IT equipment – and anything else you’d like to protect.
How Technology Insurance protects you
A vital component of any Technology Insurance policy is professional indemnity cover for lawsuits brought against your company. Your policy can also protect you against the ever-increasing array of cyber risks faced by businesses today – from ransom demands to defamation claims.
Because our specialist brokers understand the risks you face as a tech firm, they can tailor your cover to provide the best possible protection at the lowest possible price.
You’re covered for claims alleging breach of contract, errors or omissions, the failure of a product to perform its intended function, and the infringement of intellectual property rights.
Your policy can cover the cost to restore your system, network and data, including IT forensics, credit monitoring and PR to mitigate reputational damage.
You won’t be out of pocket if you have to notify customers, clients or employees that the security of their data has been compromised.
Your cover can include any fall in profits due to a security breach or system failure.
Privacy and security liability
You’re covered for defence costs and damages incurred by claims that you’ve failed to keep personal data secure.
Why you should consider Technology Insurance
When it comes to professional indemnity, it’s crucial that there are no grey areas in your policy – and that you’re covered for all the risks you face, both contractually and in your business operations.
Given today’s compensation culture, claims for breach of contract, data loss or infringement of intellectual property rights are increasingly likely – and the consequences can be disastrous.
Some contracts aren’t covered by standard insurance policies. For example, if you’re signing up to contractual terms that are subject to a US court of law, you need to ensure your policy reflects this.
When your company depends heavily on technology, a hacker attack or virus can be very damaging to your reputation and your profit.
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