Data security risks
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.
Tech E&O insurance
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.
Directors & Officers liability
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
Who we support within the technology industry
Healthtech & medtech
Software and app developers
ICT & Telecommunications
Network and systems design
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 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.
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, 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 (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.
Protects your revenue if there’s a physical disruption such as fire, flood or power failure that stops your business for functioning.