Outlined below are the insurance companies and their associated product names:
- American International Group (AIG): Information Technology Civil Liability Policy Wording
- Brooklyn Underwriting Pty Ltd: Combined Information Technology and Telecommunications Legal Liability Insurance Policy
- CGU Insurance Limited: Information and Communications Technology Liability Insurance Policy
- Chubb Insurance Company of Australia Limited: Premier or Standard Information and Network Technology Liability Insurance Package Policy
- Dual Australia Pty Limited: iTech Information Technology Policy Wording
- Liberty International Underwriters: Errors & Omissions Liability Insurance Policy for Information Technology Organisations
- QBE Insurance (Australia) Limited: Information and Communication Technology Liability Insurance Policy
- Zurich Australia Insurance Limited: Technology and Communications Sectors Professional Liability Insurance
What Does Information Technology Liability Insurance Cover?
- Civil liability arising from the provision of Information Technology (services, advice, specification or work); and
- An occurrence that causes personal injury or property damage in connection with the insured’s business and/or products
What are the Benefits?
- Peace of mind with additional cover that is tailored for the IT industry, covered by the one insurer (both the Professional Indemnity and Broadform Liability under the one packaged policy), and reducing the gap between the Professional Indemnity and Broadform (General) Liability covers.
- Saving time completing only one proposal form for two policy covers, allegations are defended by experienced and professional legal representatives.
- Reduces lost income by reducing an interruption to their business with professionals handling any defence, and cover for legal costs provided.
Who is Covered under the Policy?
The policyholder as named in the policy schedule as issued by the insurer including Principals, Directors, Partners, Employees and some policies extend to cover contractors that work on your behalf.
The policy schedule should be in the legal trading entity(s) and should include any subsidiary companies and prior entity(s) (if applicable).
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.”