With technology changing so rapidly and society relying on it to manage their lives and businesses, it is not surprising that IT companies are experiencing greater liability risk for the work they perform and the products they supply.
Information Technology (IT) professionals and businesses can be liable for advice or the services that they have performed that cause financial loss to a third party.
Information Technology Liability Insurance is specifically designed for the Information Technology consulting market. It offers Professional Indemnity and Broad Form Liability cover under the one combined policy. This is designed to mitigate the legal uncertainty that exists over whether IT people and organisations are providing a “product” or “service”. A service such as advice is a Professional Indemnity issue and the supply of a product is a Products Liability issue.
We are able to arrange an Information Technology Liability policy for many different general and specialist people and organisations including:
IT and Telecommunications
Computer and equipment manufacturing
Electronic components and accessories manufacturing
Integrated circuit manufacturers
Network / Hardware manufacturers
Application software and tools
Mobile phone and tablet applications
Internet Service Providers
Application Service Providers
Web hosting, data centres and ancillary services
Wireless communication and messaging services
Network consulting and support services
Information Technology Services
Data processes and system integrators
Data storage and retrieval services
Computer consultants and systems analysts
Computer maintenance and repair
IT outsourcing and facility managers
Value added retailers
Other computer related consulting services
Claims against IT professionals may include:
Financial injury arising from software/system defects, failure to perform and deficiencies
Loss of data
Breach of Intellectual Property
Breach of privacy / confidentiality
Breach of the Competition and Consumer Act
Breach of contract (common law provisions)
Bodily injury or property damage to a third party
Bodily injury or property damage resulting from a hardware / product defect
Incorrect advice leading to financial loss
Please give us a call to help you arrange the most apprpriate and cost effective product for you.
How can we help you?
Contact us at Focus Insurance office nearest to you or submit a business inquiry online.