Technology / IT Combined

Specialist Cyber Risks Broker

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Technology / IT Combined Insurance

Technology and IT businesses are using the Internet and electronic communication to transact their business in a very complex way and now more than ever. The internet, e-commerce and web communication is growing as a means of marketing, advertising, maintaining customer’ relationships and interacting with them at the same time.

 

But, it has opened up a whole new set of risks that Technology & IT businesses now face. Traditional insurance policies may no longer cover the risks to which these businesses and their clients are exposed. Insurers’ understand this and have been insuring these risks for the last decade. A Technology & IT combined policy including specific Cyber Liability cover can cover these risks and work in tandem with traditional property and liability insurance covers.

 

As the legal climate evolves along with the Data Protection Act and changing privacy laws in Ireland, the high litigation costs for cases against copyright infringements, trademark disputes, virus transmissions, theft of data etc., all combine to make Cyber Liability a cover which Tech & IT businesses cannot afford to be without.

 

A traditional commercial or office combined policy can cover your business’ premises, contents, equipment, stock, business machines, machinery, plant, fixtures and fittings and computers if it is damaged, lost or stolen. Also includable are Public, Products & Employers’ Liability cover. In addition, you can also add a range of specialist covers to your policy: portable equipment (all risks), business interruption including rent payable / receivable, legal expenses, personal accident, directors & officers liability, goods in transit, fidelity guarantee, money and glass and work away from the premises extension.

Added to this is Cyber Liability / Errors & Omissions cover which is a specific form of professional indemnity cover for Tech / IT firms.

 

What can Technology / IT combined insurance cover me for?

Buildings, Contents, Fixtures, Fittings, Computers tick Stock, Business Equipment, Machinery, Plant

  • Public & Employers’ Liability
  • Business Interruption / Loss of Revenue
  • Money incl. Personal Accident / Assault
  • Fidelity Guarantee / Goods in Transit
  • Directors’ & Officers’ liability cover
  • Engineering & Statutory Inspection
  • Products Liability
  • Loss of Rent Receivable / Payable
  • Loss of Book Debts
  • Fire Brigade Charges / Glass & Framing
  • Corporate Legal Liability cover
  • Legal Expenses cover

 

Cyber Liability / Errors & Omissions cover

  • Claims from Third Parties for financial loss
  • Virus Damage / System Suspension costs
  • Costs of defending a Third Party claim
  • Theft of Data / Identity Theft claims
  • Intellectual Property Infringement claims
  • Compensation awards made to Third Parties

 

You may need Technology / IT combined insurance cover if you:
  • operate a technology business or provide information technology (IT) services to your clients
  • work from a commercial / industrial / manufacturing / high tech premises
  • own your own premises, machinery, plant & equipment, contents, fixtures & fittings, stock etc.
  • collate or store company or client personal or sensitive data via your website or data base
  • have employees / contractors working for you
  • carry out manual or non manual work away from your business premises
  • have clients visit you at your business premises
  • rely on a fully operational premises including technology infrastructure to generate business income

 

Why have traditional combined insurance?

To protect your business from the following;
  • damage to, loss or theft of business premises, contents, machinery, plant or equipment or stock
  • claims from a client or member of the public due to injury or illness suffered by them as a result of your negligence either at your premises or elsewhere
  • claims from an employee / contractor for injury, illness or death during the course of their work for you either at your business’ premises or that of a supplier, client or customer’s
  • loss of business revenue due to damage to your premises (or that of a suppliers / customers) and / or it’s contents, stock, computers, machinery, plant or equipment etc.

 

How traditional combined Insurance protects you and your business..
  • Covers you when you have to pay compensation to a client, employee or member of the public for an illness or injury or damage to their property and your business is at fault
  • Pays out legal fees spent in defending a claim
  • Compensates you for loss to your business property, contents, stock, machinery, plant or equipment

 

Why have Cyber Liability / Risks insurance?

Cyber Liability Insurance protects your business against many of the risks arising from using the internet. Cyber Liability policies have been designed with the needs of small, medium and large businesses in mind and cover damage caused by viruses, hackers and electronic identity theft. The following is an example of the threats / risks coverable;

  • Virus Damage
  • Hacker Attack / Data Theft
  • Infringement of Intellectual Property
  • Online Identity Fraud
  • System Suspended

 

How Cyber Liability Insurance protects you and your business..
  • Covers you when you have to pay compensation to a customer or third party for a Cyber attack and your business is at fault
  • Covers your own business from a Cyber attack
  • Pays out legal fees spent in defending a claim

 

What other insurance cover do I need to consider to adequately protect my business?

  • Directors & Officers Liability
  • Motor (Fleet) Insurance
  • Commercial Legal Expenses
  • Life Assurance / Key Man Cover
  • Personal Accident
  • Engineering / Inspection
  • Corporate Travel cover
  • Company Pension

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MEET THE TEAM

David Faughnan CIP, Director

You can contact via phone below or click on photo to email directly 01 8245555

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Elisa McKenzie

You can contact via phone below or click on photo to email directly 01 8245555


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