Information Technology Insurance

Information Technology Insurance Broker that will protect your IT Business with tailored Insurance Solutions

Information Technology Insurance

Information Technology Insurance Broker that will protect your IT Business with tailored Insurance Solutions

information technology insurance

What Is Information Technology Insurance?

Information technology insurance is a broad all encompassing insurance policy that protects your IT business from errors and mistakes from the advice you give, the products you sell, or the services you provide that result in injury, or financial loss to third parties, such as your customers.

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What does an Information Technology Insurance Policy cover?

Products Liability

Products Liability insurance covers the legal and defence costs if a claim was brought against you for third party injury and third party property damages as a result of the products you’ve sold such as hardware and components.

Financial Loss from the services you provide; breach of professional duty

Professional Indemnity Insurance provides your IT business with security that if the professional services you provide results in your customer suffering a loss because of this, that your insurance policy will respond.

Financial loss from the advice and recommendations you provide

Professional Indemnity Insurance will protect your business if an actual or alleged claim is brought against you as a result of the advice you’ve given that results in a finanicial loss to a third party.

Third party Personal Injury or Property Damage

Public Liability insurance protects your business from third party injury, or property damage claims as a result of your negligence. The risk for these claims are generally lower if you’re a home based business, or if you don’t have a retail store where customers frequent often.

What's standardly excluded under an IT Liability policy?

Public Liability Insurance Broker

Uninsured business activities

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Product recall costs

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Injuries to your employees

Public Liability Insurance Broker

Asbestos and Pollution Liability

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Activities in the US & Canada

Public Liability Insurance Broker

Fines & Penalities

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Intentional and deliberate acts

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Deliberate acts

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Claims where you have assumed Liability

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Occupational Exclusions

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How would an IT policy respond in the event of a claim?

An Information technology liability insurance policy would respond in the event a third party claim is brought against you for actual, or alleged negligence as a result of the services or products you’ve provided. Your insurer will represent and defend you, including contributing/paying for the legal and defence costs if they were of the stance that you aren’t liable for the claimed damages. If your insurer concludes you’ve breached your Professional duties/liable for the damages brought against your business, they will be quick to negotiate a compensation settlement with the claimant.

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What occupations we can insure

Bespoke/Custom Software Development

Enterprise Resource Planning (ERP) Application Services

Hosting Services, Cloud Services

Multimedia Services (Website Related Only)

Network Consultancy and Support Services

Website Hosting Services

Systems Integration Services

Website Design and Development

Data Storage, Data Processing and Data Warehousing

Hardware Manufacture and Sales

IT Security Systems Consulting

Maintenance, Installation and/or Repair of Information Technology Products

Networking Voice & Data Services

Managed IT Services Provider

Software Installation (including configuration, but not code changes)

Telecommunication Services

Data Communication Services

E-Commerce Application Development

Graphic Design (Website Related Only)

Hosting Application Service Provider

IT Help Desk and Support Services

Reselling of Information Technology Products

Outsourcing and/or Facilities Management Consultancy (not including data processing or data warehousing)

Systems Analysis

IT Project Management

IT Consultancy Services

IT Recruitment Services

IT Education and/or Training Services

Internet Service Provider

Value Added Reselling

Supply of Third Party 'shrink-wrapped' Software

Software as a Service (SaaS)

Software Maintenance

How Morgan Insurance Brokers can help your IT Business

Morgan Insurance Brokers has access to leading IT insurance providers that can offer comprehensive solutions. There are many different policies on the market, and we ease the burden of determining which policy is best for you by doing a thorough analysis of the terms, conditions, premiums, and exclusions.

The recommendation we provide to you can be trusted to protect your business going forward.

Contact us today to discuss further.

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