Information Technology Liability Insurance
Professional Indemnity limits from $500k to $20m
Insurance tailored to the IT and digital sector
Professional Indemnity Limits from $500k to $20m
Public Liability limits up to $20m
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What is Information Technology Liability insurance?
Information Technology Liability insurance provides cover in the event the IT advice, service, or products you supply to clients fail. It’s a combined policy that offers the protection of both Professional Indemnity and Public & Products Liability insurances, addressing the potential overlap of the professional services and products you provide.
An IT Liability policy can help cover the cost of common claims, from a slip and fall injury on your premises to data loss and accidentally giving a client inaccurate advice.
Cover capacity
Protect your IT business with flexible cover limits.
- Professional Indemnity limits from $500k to $20m
- Public & Products Liability limits up to $20m
- Turnover up to $20m
What does Information Technology Liability insurance cover?
Injury
Compensation costs for third-party injuries caused by your negligent business activities or products.
Property Damage
Compensation costs for third-party property damage caused by your products or negligent business activities.
Professional Wrongdoing
Such as providing inaccurate advice, loss of data or documents, confidentiality or privacy breaches, intellectual property breaches, and defamation (libel or slander).
Legal & Defence Costs
Costs incurred in investigating and defending a covered claim
- Medical / surgical applications
- Aerospace / radar navigation systems
- Share trading or other financial transactions or calculations
- Security systems
- Military / defence
- Oil, Gas, Power, Nuclear applications
- Process control
- Console, mobile or PC games
This is a summary of common exclusions only. A full list of exclusions and conditions is set out in the policy wordings, which you should read before deciding to purchase this product.
Who we cover
IT Liability Insurance may be suitable for a wide range of technology companies and contractors, such as:
Information Technology Services
Software Developers
IT Consultants
System Analysts
Software Programmers
Internet Service Providers
Web Hosting Services
Internet and Web Design Consultants
Application Development
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How much does Information Technology Liability insurance cost?
Information Technology Liability insurance costs $83 per month* on average for BizCover customers, but every business is unique.
The cost of a policy varies based on your business’ revenue, IT services offered, contractual agreements, number of employees covered, claims history, and other factors.
Get cover that works with the risks of your business
You can select from different levels of cover.
This is the most you will be paid out if you need to make a claim. Choosing different cover levels may impact the cost of your policy.
Unsure how much to choose? Think about:
Business size
Cover required by contracts
Types of IT services offered
Business revenue
Worst case scenario claim size
How is the cost of insurance calculated?
Risks of the industry
Cover level amount
Annual turnover
Number of employees
Claims history
*Customer Average Monthly Payment Report is based on 1 July 2023 to Jun 2024 and presented as a guide only. It may not reflect pricing for your particular business, as individual criteria will apply.
Click here to check industry wise average prices
Underinsurance
We know it’s tempting to select a lower level of cover to reduce premiums, but this can leave businesses shocked and insufficiently covered when making a claim.
Ways underinsurance catches business owners out:
Inflation
With inflation, the cost of living and doing business increases. Remember to over yourself, your tools and assets for the rising costs of replacing or covering them, not what you paid for them – you may be surprised at the difference.
Not covering the full cost of your risks
If you select cover levels for less than the value you may be found liable – left out of pocket when it comes to claims time. It’s important to review your risks and determine how much you will need to cover any claim that may come your way.
Get cover that works with the risks of your business
You can select from different levels of cover.
This is the most you will be paid out if you need to make a claim. Choosing different cover levels may impact the cost of your policy.
Factors influencing cost
Business size
Cover required by contracts
Types of IT services offered
Business revenue
Worst case scenario claim size
*Customer Average Monthly Payment Report is based on 1 July 2023 to Jun 2024 and presented as a guide only. It may not reflect pricing for your particular business, as individual criteria will apply.
Click here to check industry wise average prices
Underinsurance
We know it’s tempting to select a lower level of cover to reduce premiums, but this can leave businesses shocked and insufficiently covered when making a claim.
Ways underinsurance catches business owners out:
Inflation
With inflation, the cost of living and doing business increases. Remember to over yourself, your tools and assets for the rising costs of replacing or covering them, not what you paid for them – you may be surprised at the difference.
Not covering the full cost of your risks
If you select cover levels for less than the value you may be found liable – left out of pocket when it comes to claims time. It’s important to review your risks and determine how much you will need to cover any claim that may come your way.
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How To Make a Claim Online
We’ll assist you through the claims process & manage the claim directly with the insurer.
Let us know Fill out our
claims form and provide info
to support the claim
Receive extra support We
will assist you with your claim
Claim results We will notify
you of the claim outcome.
3 steps to get your biz insured:
- Let us know
Fill out our claims form and provide info to support the claim.
- Receive Extra Support
We’ll assist you with your claim.
- Claims Results
We’ll notify you of the claim outcome.
IT Liability claim example
A computer programmer was de-bugging a client’s software remotely and accidentally deleted all the information in the client’s database, which had been inputted and saved on the software. This included customer records, accounts receivable and pending jobs. The mistake disrupted the client’s business and caused them to lose income.
Luckily, the programmer had an Information Technology Liability policy. Their insurer settled the claim with the client and paid $450,000 to cover losses, plus $72,061 in legal defence costs for the computer programmer.
The provision of the claims examples are for illustrative purposes only and should not be seen as an indication as to how any potential claim will be assessed or accepted. Coverage for claims on the policy is determined by the insurer, and not BizCover.
See How Much Others Have Saved By Purchasing a Policy Through BizCover
Colette
Disability Care Worker from
NSW
Saved
$1,200
on
Public Liability and Professional Indemnity insurance
Andrea
Beautician from
VIC
Saved
$1,500
on
Business insurance Pack and,
Public Liability and Professional Indemnity insurance
Deborah
Cleaner from
VIC
Saved
$3,600
on
Public Liability insurance
Lance
Electrician from
ACT
Saved
$800
on
Public Liability insurance
Stephen
IT Professional from
VIC
Saved
$1,500
on
Information Technology Liability insurance
Linda
Restaurant owner from
NSW
Saved
$1,000
on
Business Insurance Pack and
Public Liability insurance
^ Savings made from January 2024 to April 2025. This information is provided as a guide only and may not reflect pricing for your particular business, as individual underwriting criteria will apply.
Frequently asked questions
You may benefit from having Information Technology Liability insurance if you are a professional or own a business in the following industries:
- Information Technology Service Providers
- Software Development and related modalities
- Network Engineering
- IT Consultants
Yes, you can get separate Professional Indemnity (PI) and Public & Products Liability (PL) policies. However, there is a big benefit to choosing a combined policy.
Some IT activities often exist in a grey area where they could be considered both a service and a product. If you have separate PI and PL policies from different insurers, it may complicate getting your claim approved. A combined policy can simplify the claims process by eliminating conflicts between insurers over who will cover it.
No, IT Liability does not cover your business equipment and assets. Contents, Portable Equipment and Electronic Equipment Breakdown (all options in a Business Insurance Package) are designed to protect your tech equipment, stock, and other items you may need to run your business.
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