Do you run an IT support business? IT professionals are often in high demand to help business customers manage their systems and deal with any technological disasters that may befall them. Although working in IT can be extremely rewarding, if you make a mistake or suffer an equipment failure it could have a potentially devastating effect on your clients and/or their business. It is important to have technology insurance in the event that a mistake you or a staff member makes causes long term damage to a client’s business and you are found liable.
Professional liability insurance aimed at the IT industry should generally provide protection for IT professionals and their clients against liability claims arising from an error or an equipment malfunction. This typically includes coverage for the cost of defending yourself and any required payout up to the policy limit. Additional coverage can be purchased in the form of an umbrella policy.
Professional liability insurance needs to be purchased separately to general commercial liability which doesn’t usually provide coverage for damage caused as a result of a programming error or failure to deliver a product as requested. For any questions concerning professional liability or any other form of technology insurance contact one of our agents.