What is IT Insurance?
It Insurance is specialized coverage for Information Technology Professionals in fields such as IT Consultants, Network Support Services, Computer Training Schools, and IT Service Providers. IT Insurance is necessary for every IT Business, whether you are working from a home office or have an office with 500 employees. Don’t let your start-up or growing IT Business suffer through a loss that could have been mitigated by IT Insurance.
What does IT Business Insurance Cover?
IT Business Insurance can cover your IT Business for such risks as:
- Liability – Including Worldwide Coverage
- Errors & Omissions exposure – Including damages resulting from viruses or unauthorized access to information due to an error or omission by the IT professional
- Intellectual Property Infringement
- Delay in Contractual Performance (Must be due to a Wrongful act)
Why do I need IT Professional Indemnity Insurance?
Let’s say you are an IT consultant and you recommend that your client use open source software to collect and organize customer information. This software has a flaw that allows a hacker to obtain all of your customer’s database records including credit card information which is then released to the public. The customer then sues for misguided advice and you are left to pay the defence costs. This could spell the end of your company or at the least, many years of rebuilding and legal headaches. With IT Professional Indemnity Insurance you will have coverage for defence costs, allowing you to focus on repairing your reputation.
How much does Information Technology Insurance Cost?
The cost for Information Technology Insurance differs based on the amount of revenue you earn per year, the type of operations you conduct, the amount of employees your business has, and the limits you choose for your Information Technology Insurance package. Premiums can be as low as $850, if you would like a free no obligation quote through our many Insurance Markets. Contact Us today or Request a Quote.