In Australia, there are a vast number of insurance companies that have dedicated Insurance products for the IT professionals.

No two insurance products are the same, with each insurer having their own product with terms and conditions specific to their individual policy. They are, however, all tailored to IT Professionals and combine Professional Indemnity & Liability Insurance under the one policy.

Here are some of the top specialist IT Insurance Companies that provide dedicated insurance products and services to the IT Industry and a bit about what they offer.

AIG Australia Limited

AIG Civil Liability Insurance Policy

AIG offers extensive Industry knowledge and experience coupled with insurance products that can be tailored to the unique needs of technology companies. With offices in more countries than any other global insurer, they can help Australian companies as they expand overseas and can provide locally admitted insurance in over 200 countries.

AIG provide broad cover to many professions including IT Consulting, IT Project Management, Software Development, Design, Analysis and Programming Services, Systems Integration Services, Telecommunications Services, Hardware & Software Resellers, Website Design and Development.

For more information on this insurer, please click here.

Brooklyn Underwriting Pty Ltd

Brooklyn’s  Combined Information Technology Legal Liability Insurance Policy
(underwritten by Allianz Australia Insurance Limited)

Brooklyn’s insurance products are customised, market-specific solutions that are supported by specialist underwriting staff with recognised experience in SME Financial Lines, General Liability and Property disciplines.

Brooklyn Underwriting provides broad cover to many professions including Data Storage, Data Processing and Data Warehousing, Hardware Maintenance & Installation Services, IT Recruitment and Placement Services, IT Consulting, IT Project Management, SCADA/PLC Services, Software Development, Design, Analysis and Programming Services, Systems Integration Services, Telecommunications Services, Value Added Reselling Services, Website design and Development, Website Hosting Services.

For more information on this insurer, please click here.

Chubb Insurance Company of Australia Ltd

Standard or Premier Information and Network Technology Liability insurance Package Policy

Chubb Insurance recognises that business in the fast and complex technology industry need insurance cover to suit. They have a specialist team of technology underwriters who are focused solely on providing the best insurance solutions for technology companies. They can provide cover on a vast array of professions including Software Development, Government/Defence, Clean Technologies, Telecommunication Services and many other IT Services.

Their INT Liability Package provides protection for Financial Injury, Technology Related Injury, General Liability, Product Withdrawal and Privacy Remediation Expenses.

For more information on this insurer, please click here.

Dual Australia Pty Ltd

Dual Australia Information Technology Liability Policy Wording
(underwritten by Lloyd’s of London)

Their information technology Liability policy includes extensive enhancements including Extended Continuous cover, Product Recall Expenses and Contractual Liability.

Dual are able to assist with cover for many professions such as Hardware Sales, Business Analysts, maintenance & Repair, Hardware Engineering and many more. A comprehensive list can be found here.

One other service provided by Dual is their Contract Review Service. For an additional premium, the Contract Review Service is an added benefit offered on all Information Technology and Professional Indemnity Policies. The service provides the policyholder with the benefit of four (4) Contract Reviews during the policy period.

For more information on this insurer, please click here.

Liberty International Underwriters

Optimum ‘Essentials’ or ‘Premium’ Errors & Omissions Liability Policy and Combined General & Products Liability Insurance Policy for Information Technology Organisations.

Liberty International Underwriters understand that the reliance on technology insurance has grown and that risks have increased as well. They have developed a truly integrated, comprehensive cover to protect against a varied range of risks that provides broad, tailored cover.

Liberty are able to assist with cover for many professions such as IT and computer consultants,  Software developers, Software resellers,  Systems integrators, Hardware manufacturers and assemblers, Hardware resellers, Hardware maintenance, service and repair companies, SCADA/PLC developers, Facilities management, outsourcing and BPO companies, Data warehousing companies, Application service providers, Web hosting, Telecommunications services, Network consulting services, Internet service providers, Internet services e.g. web designers, Call centres, Systems and data processing services, Education and training organisations.

Errors & Omissions Liability (Professional Indemnity) Insurance Policy provides cover for a range of financial loss claims resulting from the performance of Information Technology Services or the provision of Information Technology Products.
Liberty also has unique policies for Errors & Omissions that provides a Multi-Year Project Cover for IT Projects. This policy has been created by Liberty to provide cover for specific IT projects. They can offer policy periods up to 72 months with a maximum project development period of 36 months.

Combined General & Products Liability Insurance Policy is an annual policy providing occurrence-based cover for personal injury and property damage claims.

Liberty’s IT policies can provide cover on a worldwide basis which means you are able to arrange one policy with one insurer to protect all of your international operations.

Liberty International are a large company with many years experience in providing specialised cover for their clients. More information can be found here.

For more information on this insurer please click here.

QBE Insurance (Australia) Limited

Information and Communication Technology Liability Insurance Policy.

QBE provides comprehensive IT Insurance cover against a variety of risks including liability for failure of products, services and/or advice; and infringement of copyright, trademark and registered design. It provides protection against claims arising from plagiarism, libel, slander, breaches on confidentiality and privacy. Policies are able to be tailored to clients’ needs.

For more information on this insurer, please click here.

AAI Limited T/As Vero Insurance

Vero’s iTech Insurance

With its continuing, rapid growth, the information technology (IT) industry has seen a proliferation of roles, responsibilities and risks. The exposure of industry practitioners to liability and professional indemnity issues has increased exponentially.

Practitioners can be liable for breaches of professional duty, consumer protection legislation, libel and slander, breach of privacy and confidentiality, and an infringement of intellectual property rights.

Vero are able to assist with cover for many professions including IT Consultants/Contractors, Software Developers, Software resellers, Systems integrators, Hardware manufacturers and assemblers, Hardware resellers, Hardware maintenance, Facilities Management, Data warehousing companies, Application Service Providers, Web hosting, Telecommunications services, Network consulting services, web designers, Systems and Data processing services, Education and training organisations, IT Recruitment consultants/ IT Specialists can protect themselves with Vero’s iTech Insurance Policy.

For more information on this insurer, please click here.

Get A Quote for IT Insurance Online 

As every business is different, we have several options for businesses to obtain quotations:

  • Compare Quotes & Buy Online – this option is ideal for businesses with under $5million turnover. You can obtain a quotation specific for your businesses needs and purchase cover online.
  • Online ApplicationBusiness’s exceeding to $5million turnover, please complete the online proposal form. This will enable a quotation to be provided based on your specific business needs.

 

Disclaimer“This material contains general information only and may not suit your particular circumstances. To decide if a policy is right for you please carefully read the relevant Product Disclosure Statement (PDS) and/or Policy wording. While we have exercised due care and skill in preparing this information, Optimum Insurance Services (Optimum) does not accept any legal responsibility or liability for negligence or otherwise to you or anyone else who seeks to rely on this information. This includes, without limitation, loss arising from a possible failure of the information to comply with statutory or regulatory requirements or the failure of the information to identify other terms and conditions beyond those considered in this document. You should obtain advice to ensure that your policy provides adequate cover for your circumstances.

“Optimum Insurance Services Pty Ltd is a Corporate Authorised Representative of Insurance Advisernet Australia Pty Ltd (Car No. 291220), Australian Financial Services Licence No 240549, ABN 15 003 886 687.”

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Optimum Insurance Services Pty Ltd is a Corporate Authorised Representative (No. 291220) of Insurance Advisernet Australia Pty Ltd (AFSL No. 240549).

 

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