IT Liability Insurance

IT Liability Insurance

What is IT Liability?

IT Insurance protects you from claims if your client holds you responsible for errors, or the failure of your work to perform as promised in your contract.

There are two main sections of an IT policy which are:

The policy can also often be extended to include the following additional risks

Why is it useful?

Professional Indemnity protects the IT Professional against claims of negligence or other act, error or omission made against them by a client. We combine this usually with Public Liability insurance for your additional protection mainly to avoid any dispute over how damage was caused. Was it physical damage or caused by programming or software error?

Coverage includes legal defence costs – no matter how baseless the allegations. IT Insurance will pay for any resulting judgments against you, including court costs, up to the coverage limits on your policy.

Information Technology and Telecommunications (IT&T) companies are facing increasing liability challenges and threats. Even the best managed IT&T companies can find themselves embroiled in legal action from ever demanding customers as the reliance on the products and services provided by IT&T company’s increases. They can face financial loss threats from the following sources:

Who can help?

IT Liability is a complex and specialised area of insurance. If you want to know more about professional indemnity and public liability and other Business Insurances, contact a specialist insurance broker such as Cooper Professional Risks. An insurance broker’s role is to act as your representative and work in your interests, seeking the best cover at the best price for you from market knowledge. Call a good one.

Call CPR – Experts who will save you. Call 07 31231137 or email enquiries@professionalrisk.com.au