IT Liability Insurance

• Protection if an IT product or service you provided fails
• Protection in the event that someone hacks into your IT systems or software and destroys or steals information
• Cover in the event that something goes wrong based on advice you’ve provided on an IT service or product

Given the nature of IT, where you provide both a service and a product simultaneously, it can be unclear where a claim should be categorised. The uncertainty lies in whether it should be covered under a product or public liability policy (for third-party claims related to property damage or personal injury) or a professional indemnity policy (for third-party claims related to financial loss).

This ambiguity can lead to claims potentially falling between the cracks if they are covered by separate policies, particularly when these are held with different insurers. It is advisable to secure coverage under a single IT Liability Insurance policy, which encompasses all of the above areas.

The information provided on this website has been prepared for general information purposes only and not as specific advice to any particular person. Any advice on this website is General Advice and does not take into account any person’s individual investment objectives, financial situation or needs. Before making a decision based on this advice you should consider whether it is appropriate to your particular circumstances.

Where the General Advice relates to the acquisition or possible acquisition of a financial product, you should obtain a disclosure document, including the Product Disclosure Statement (PDS) and, where available, Target Market Determination (TMD) relating to the product and consider the content before making any decision about whether to acquire the product.

Authorised by Clearlake Insurance Brokers ABN 16 651 113 861 AFSL 559829