Professional Liability Insurance for IT and other technology companies
Technology and communications are indeed one of the fastest growing industry sectors.
In such a fast developing industry, also the risks are rapidly changing, therefore a constant monitoring and evaluation of your risk exposure is needed.
Part of the development of this industry is evident from a particularly high increase of intangible perils resulting from the increased global outsourcing, changing requirements of your clients, increased competition and complicated legilslation.
Hereinafter we present a short resume of such an insurance package offered, of which content you should be asking yourselves when determining your insurance requirements.
Why choose our technology insurance ?
Most small businesses don't want to manage several different insurance policies when one fully comprehensive package is available. We provide modular prices so that our customers can choose the coverage they want and leave out the parts they don't.
- Our policy provides comprehensive cover for claims arising directly from the breach of a client contract including breaches of warranties and when indemnity provisions are triggered.
- Policy covers the insured for claims made against them due to the acts of their sub-contractors. In fact the language we use in our form is "commited by you on your behalf", so we provide cover for the insured's own liability irrespective of who carried out the act which led to the claim.
- In the technology industry, disputes can escalate quickly. That's why we have included a range of covers which help to solve a problem before it leads to a lawsuit. These include loss mitigation coverage, cover for payment of withheld fees, and brand protection cover.
- We provide worldwide cover as standard and can provide cover for companies with up to 100% US revenues.
What cover is available ?
- Professional liability
- Breach of contract liability
- Intellectual property rights infringement
- Loss of documents
- Cyber and privacy
- Loss mitigation
- Payment of withheld fees
- Employee fidelity
- Website damage
- General liability
- Products liability
- Business interruption
What are the limits, deductibles and premiums ?
Max. Cyber and Privacy Limits : € 7,5 m
Max. Professional Liability Limit : € 7,5 m
Max. General Liability Limit : € 10 m
Max. Revenue : Unlimited
Min. Deductible : Nil
Min. Premium : € 300
Insurance sectors
- Software
- Hardware
- IT services
- Telecommunications
- Communication equipment
- Digital Broadcasting
- Electronic equipment and instruments
- Numerically controlled machines
Technology and communications are indeed one of the fastest growing industry sectors.
In such a fast developing industry, also the risks are rapidly changing, therefore a constant monitoring and evaluation of your risk exposure is needed.
Part of the development of this industry is evident from a particularly high increase of intangible perils resulting from the increased global outsourcing, changing requirements of your clients, increased competition and complicated legilslation.
Hereinafter we present a short resume of such an insurance package offered, of which content you should be asking yourselves when determining your insurance requirements.
Why choose our technology insurance ?
Most small businesses don't want to manage several different insurance policies when one fully comprehensive package is available. We provide modular prices so that our customers can choose the coverage they want and leave out the parts they don't.
- Our policy provides comprehensive cover for claims arising directly from the breach of a client contract including breaches of warranties and when indemnity provisions are triggered.
- Policy covers the insured for claims made against them due to the acts of their sub-contractors. In fact the language we use in our form is "commited by you on your behalf", so we provide cover for the insured's own liability irrespective of who carried out the act which led to the claim.
- In the technology industry, disputes can escalate quickly. That's why we have included a range of covers which help to solve a problem before it leads to a lawsuit. These include loss mitigation coverage, cover for payment of withheld fees, and brand protection cover.
- We provide worldwide cover as standard and can provide cover for companies with up to 100% US revenues.
What cover is available ?
- Professional liability
- Breach of contract liability
- Intellectual property rights infringement
- Loss of documents
- Cyber and privacy
- Loss mitigation
- Payment of withheld fees
- Employee fidelity
- Website damage
- General liability
- Products liability
- Business interruption
What are the limits, deductibles and premiums ?
Max. Cyber and Privacy Limits : € 7,5 m
Max. Professional Liability Limit : € 7,5 m
Max. General Liability Limit : € 10 m
Max. Revenue : Unlimited
Min. Deductible : Nil
Min. Premium : € 300
Insurance sectors
- Software
- Hardware
- IT services
- Telecommunications
- Communication equipment
- Digital Broadcasting
- Electronic equipment and instruments
- Numerically controlled machines
