Information technology liability insurance
Businesses are increasingly reliant on IT systems, and that reliance has made them more exposed to risks such as data breaches, software errors and hacking.
IT liability insurance protects businesses that provide technology products, services or advice. We arrange it for IT businesses and consultants Australia-wide.
What is IT liability insurance?
IT liability insurance is a specialised form of insurance for businesses in the information technology field. It covers liabilities and risks that come from providing technology products, services or advice, and is particularly relevant to software development, IT consulting, network services and data management.
It is a combined policy that gives you the protection of both professional indemnity and public and products liability insurance. That addresses the overlap between the professional services and the products you supply to your clients as an IT professional.
What it can include
Depending on the insurer and policy, an IT program may include:
Professional indemnity
Claims that your advice, software, design or services caused a client financial loss.
Public and products liability
Injury or property damage caused by your business or the products you supply.
Cyber insurance
Costs and liability after a data breach, hacking or other cyber incident affecting your own systems.
Business insurance
Office contents, equipment and business interruption.
Do I need IT liability insurance?
If you are a consultant or work in an organisation that develops, manufactures, sells, licenses or integrates any form of information technology or related services, you should consider it. This includes:
- Software developers
- Electronic and telco equipment manufacturers
- Telecommunication providers
- Internet service providers
- IT consultants
- Web hosting providers
- Hardware and software resellers
- IT maintenance and repair technicians
How we work with you
Independent broking, Australia-wide, with one point of contact.
- We learn how your business runs: what you do, turnover, staff, premises and contracts.
- We compare cover across a range of insurers and explain the key inclusions, exclusions and limits in plain English.
- We help with certificates of currency for landlords, leases and contracts.
- We support you at renewal, when your business changes, and through the claims process.
Frequently asked questions
Why a combined PI and public liability policy?
IT businesses often supply both advice and products. A combined policy helps avoid gaps where a claim involves both, such as faulty hardware installed as part of a consulting project.
Does IT liability cover a cyber attack on my own business?
Not usually. IT liability covers your liability to clients. Losses to your own business from a cyber attack generally need a separate cyber policy.
Do clients ask for minimum limits?
Often, yes. Many contracts, especially with government and larger clients, set minimum PI and public liability limits. Send us the insurance clauses and we will check them.
Am I covered for overseas clients?
It depends on the policy. Some restrict cover for work or claims outside Australia, particularly in the United States and Canada. Tell us where your clients are.
Talk to us about your cover
We will review the services and products you provide and your contracts, and talk through your options. Call us, email us or request a callback. We service businesses Australia-wide.
Get in touch
- Phone
- (03) 9078 6473
- info@mminsure.com.au
- Hours
- 9:00am to 5:30pm, Monday to Friday
Find out more
Every business is different - which means you need an insurance solution that is tailored for you. For more information, contact us today.
Contact us