Technology & Telecom
Insurance for software companies, IT service providers, and telecom businesses, where the most valuable assets are data, systems, and contracts.
Two sides of a cyber incident.
Cyber policies respond both to your own losses and to claims from others affected by an incident.
Your own losses
First-party cover
- Incident response and forensic investigation
- Restoring data and systems
- Business interruption from system outages
- Ransomware response costs
- Notifying affected customers
Claims against you
Third-party cover
- Customer claims after a data breach
- Regulatory investigations, where insurable
- Network security liability
- Media liability for published content
- Legal defence costs
Programmes for every stage of growth.
Software and platform companies
Clients rely on your software to run their businesses. Errors, outages, and data breaches can all lead to claims.
- Technology errors and omissions
- Cyber liability
- Directors and officers liability for funded companies
- Office property and equipment
IT consultants and managed service providers
When you manage clients' systems, a mistake or breach on your side can affect many customers at once.
- Professional indemnity
- Cyber liability, including client systems
- Public liability for on-site work
- Workmen's compensation
Telecom and infrastructure operators
Network equipment is spread across many sites and exposed to fire, power surges, and accidental damage.
- Property cover for towers, data centres, and equipment
- Business interruption for network outages
- Third-party liability
- Contractors' cover for network roll-out
Technology insurance, in plain words.
- Technology E&O
- Errors and omissions cover for financial losses your clients suffer because your technology or service failed.
- Ransomware
- Malware that locks systems or data until a ransom is paid. Policies cover response costs, subject to their terms and the law.
- Retroactive date
- The date from which past work is covered under a claims-made policy.
- Waiting period
- The number of hours a system outage must last before business interruption cover applies.
Our clients require professional indemnity. How much do we need?
Contracts usually specify a minimum limit. We review your largest contracts and recommend a limit that meets them.
Does cyber insurance cover a breach caused by an employee mistake?
Usually yes, as long as the loss falls within the policy's insuring clauses and no exclusion applies.
What do insurers ask about our security?
Typically multi-factor authentication, backups, patching, endpoint protection, and staff training.
Need protection for your future?
Global coverage, trusted assurance. Our advisors are available Mon – Sun 9:00 AM – 6:00 PM.