Technology Insurance

Get the right spec for your tech business

Technology Insurance

Data loss. Hacking. Corporate espionage. As innovators in technology, you’re more exposed than most businesses. Protect your technology business from risks that aren’t covered by standard insurance policies.

What is Technology Insurance?

Technology Insurance isn’t actually insurance for technology. It’s insurance for technology businesses. Which basically means companies in the tech or telecoms industry. Think SaaS, software development, web, app and game developers or hosting and platform providers.

We cover you for professional indemnity and cyber risks such as data loss, hacking and corporate espionage. And you can add cover for public and products liability, employer’s liability and IT equipment, as well as anything else you need to protect. 

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How Technology Business Insurance protects you

Professional indemnity cover is one of the most important aspects of technology insurance. But our specialist brokers understand the risks you face as a tech firm so we’ll dig deep into your business to uncover all the risks you face. We’ll consider ever-increasing cyber risks like ransom demands and defamation claims to create a policy that’s specific to your business. So you are properly protected.

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  • Professional indemnity

    Cover 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.

  • Cyber attacks

    Cover for the cost of restoring your system, network and data, including IT forensics, credit monitoring and PR to mitigate reputational damage.

  • Data breaches

    Cover for the cost of notifying customers, clients or employees that the security of their data has been compromised.

  • Business interruption

    Cover to compensate for a drop in profits due to a security breach or system failure.

  • Privacy and security liability

    Cover for defence costs and damages incurred from personal data security claims.

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.

  • Claims for breach of contract, data loss and infringement of intellectual property rights are becoming more common.

  • Some contracts aren’t covered by standard insurance policies. For example, contractual terms that are subject to a US court of law.

  • As your company depends heavily on technology, a hacker attack or virus could be the most damaging risk to your reputation and your profit.

Watch out for grey areas in technology business insurance. Make sure you’ve got all the professional indemnity cover you need.

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