Information technology insurance

Information technology can also be provided by

If you need coverage for your company's assets, IT insurance is the answer. Insurance companies are well placed to answer any questions you may have about the terms and conditions of IT insurance coverage.

Gone are the days when insurance did not cover the web sector, due to a lack of suitable offerings. Today's insurance companies offer policies tailored to the needs of IT professionals. It is therefore possible to take out insurance for technological assets.

For example, property insurance covers all the equipment in a company's or professional's estate. The insurance policy also covers civil liability. This second point covers physical injury for which the company is responsible. In other words, accidents that injure other people. Thirdly, there is errors and omissions insurance. This includes intellectual property infringement, computer hacking and other types of criminal acts.

Small businesses can also take out IT insurance. You might think that only large companies could afford this type of insurance coverage. However, today's insurance services offer something for every purchasing power.

A non-exhaustive list of items covered by IT insurance

Civil liability

• This is part of the basic package offered by insurance companies, whether in the IT or other sectors. As a reminder, third-party liability covers any damage caused by the policyholder to others or to equipment. To cover all eventualities, it is advisable to determine in advance the limits of what insurers call the real risk. This is essential to protect a company from the consequences of a claim or lawsuit, should one arise.

Executive risks

• Executive risk insurance covers company directors and officers in the event of mismanagement, for which they are responsible. In the event of legal action, the insurance policy covers the expenses incurred. Executive risks are aimed more at members of a company's board of directors, or at the company's top management itself. In insurance jargon, executive risks are also known as "D&O".

Professional liability

• Also known as errors and omissions insurance, professional liability covers errors that fall within the scope of professional competence. This may be due to biased advice that has resulted in financial loss for a customer. It may also be due to an omission, or simply an error in the design of a particular product or service, such as a programming error. For all these types of professional errors, the insurance policy covers the costs of any legal proceedings. As with executive risk, professional liability is an insurance cover that meets the needs of a company director, but is also suitable for staff further down the hierarchy.

*Please refer to a broker.