What are the most common insurance risks facing technology companies?

If your business operates in the world of tech, you not only face the risks common to every business, such as business interruption, property damage or theft and public and employer liability risks, but you’re likely to be face more complex cyber risks, errors & omissions and intellectual property challenges. These sector specific risks need specialist advice.

Why do I need tech E&O insurance?

This specialist type of liability cover designed for the technology sector can help cover the costs if your company is held responsible for causing damages due to errors, omissions or mistakes caused by the services or products your business provides.

How do I protect our technology IP?

The tech industry is fast paced and constantly developing new apps, software and processes – each unique to their creators. It’s vital to protect your company’s intangible assets – your innovations and ideas – with intellectual property (IP) insurance.

We store our data on the cloud – why do we need cyber insurance?

The cloud is just another platform for the hackers to target. In fact, the number of users and amount of data that is potentially available means that cloud storage is actually an extremely attractive target for hackers.

What if my AI misinterprets data and reaches the wrong conclusion/diagnosis?

Talk to our team of technology insurance experts about protecting your business with the right liability insurance solutions.

Technology Insurance

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Connect to a specialist

Specialist insurance solutions for the technology sector. Whether you’re in software development, robotics, telecommunications, network and systems design, fintech or health tech, we’re here to support you. The Partners& technology team offers a wealth of experience, expertise and insurance advice for tech businesses looking to build financial resilience in challenging times, and to reassure investors.

Who we support

Fintech
Healthtech & medtech
Artificial intelligence
Quantum computing
Software and app developers
Robotics
ICT & Telecommunications
Network and systems design
IT services
Cleantech
Electronics
Nanotechnology

Why us?

Our clients are telling us

Technology Brochure
Insurance 101 for technology companies
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We're specialists in ...

Through our collective experience, we’ve observed many of the best and worst practices in the insurance advisory market. We’re here to challenge the status quo and aim to establish a new level of service. We’re combining the best traditions of technical advice and client centricity, with modern thinking and smart use of systems and technology to enhance the client experience and create a dynamic workplace for our team.

Challenges in your industry

Cyber risk is a threat to every industry. But if your business is responsible for providing data or technology services, then that risk is amplified. With a vast array of cyber insurance solutions available, it’s crucial to make sure you have the peace of mind that your business is protected.

How we support

If your business offers a technology service or business, tech E&O is one of the most important areas of insurance cover to consider. The liability costs arising from an errors and omissions claim can be huge – and potentially fatal to a business.

Your business performs

Directors of tech businesses are exposed to new risks associated with data, governance, environmental and social issues – and can be held personally liable if things go wrong.

Why do you need specialist technology insurance?

Tech-based business is 24/7, global and borderless, exposing you to new risks and liabilities, often in unfamiliar places. As the law struggles to keep pace with technology, insurance can provide a real safety net if you fall foul of changing legislation.

Insurance is traditionally based on precedent, but with emerging and disruptive tech there may be no precedent. That’s why it’s critical to work with a specialist tech insurance adviser who really understands your business model and has access to specialist technology underwriters and policy wordings.

Insurance for technology-based businesses must flex rapidly to provide protection from tech E&O insurance (errors and omissions) for fintech and digitisation projects, right through to medical malpractice within health tech insurance portfolios.

Our eco-system in the technology industry

Usual types of cover for the technology industry

Technology businesses typically hold significant and sometimes sensitive data, rely heavily on networks for delivery and work under numerous contracts.

From businesses engaged in software and hardware development, telecommunications, network and systems design and installation, and firms providing managed IT and communications services worldwide, we can provide bespoke insurance advice.

Tech E&O

Tech E&O provides liability cover that can help cover costs if your business is deemed responsible for causing damage due to errors, omissions or negligence as a result of the services or products you provide.

Cyber insurance

No two organisations are the same and the cyber risks facing technology companies are complex. We take the time to understand what cyber risk looks like in your own organisation and build a tailored insurance and cyber risk management programme.

Directors’ & Officers’ Liability (D&O)

Directors, company officers and senior managers can be held personally liable for the actions and decisions they make on behalf of the company. D&O can provide cover for legal advice and cover defence costs as well as any compensation costs that arise from an unsuccessful defence.

Intellectual Property

Intellectual property (IP) is an intangible business asset that often helps set companies apart from their competitors. IP insurance provides cover for claims alleging infringement of IP rights, including patents, trademarks, copyright and trade secrets.