FAQ category: Technology Core FAQs

You need cover because clients rely on your software and services more than ever, and the UK is becoming more litigious.

Our insurance products safeguard your business if things go wrong. It provides legal protection and also compensation to your clients if you are liable for any errors or downtime.

The right insurance protects you and your business.

• Professional indemnity insurance – This is crucial. It covers you for allegations of mistakes and negligence. It provides compensation to your client (or a third-party) in circumstances where you are liable due to professional negligence, and usually covers associated defence or legal costs.
• Cyber insurance – This mustn’t be underestimated. Even the largest companies can be hacked. You know IT security better than most but it only takes a small oversight for your systems to be compromised. We provide specialist support and our insurance will get your business back on its feet quickly if the worst happens.
• Public and product liability – This covers physical injury and damage and can be added to packages at a low cost.
• Employers’ liability – This will protect you from legal costs should an employee sustain a bodily injury in the course of their employment. If you have any employees it is compulsory in the UK to have employers’ liability and it can be added to packages at a low cost.
• Computers, laptops and office equipment – We advise insuring your IT equipment from theft and destruction and can offer cover for portable IT on a worldwide basis.
• Directors’ and officers’ insurance – This covers claims against directors or senior managers made in a personal capacity and is especially relevant if you have external investors who could hold company directors liable for failures or missed targets.

• Breach of contract – Allegations software fails to meet the contractual provisions, including missed deadlines, non-compliance, non-performance and failure to meet uptime requirements.
• Cyber-attacks – Incidents affecting either your systems or your client’s (where you are liable).
• Counter claims and tactical litigation – Increasingly claims are being made tactically, for instance, by clients with cash flow challenges who make unfounded allegations in a bid to get your business to write off or reduce genuine invoices.