Information and Communication Technology (ICT) Liability Insurance

ICT Liability insurance provides coverage for claims arising from failure of the insured’s products, services and/or advice. Cover can also include infringement of intellectual property rights, defamation or breach of confidentiality, loss of documents/data and defence costs for breach of contract.

Because of the nature of IT services there can be uncertainty as to whether a claim should fall under a public/product liability policy, which covers third party claims for property damage and personal injury, or a professional indemnity policy, which covers third party claims for financial loss.

If the policies are placed separate and, particularly, if they are placed with different insurers, a claim could potentially fall between the two policies. It is therefore desirable for these exposures to be covered under one policy, which is what ICT liability insurance has been designed to address.

An ICT liability insurance policy typically covers damages, third party legal costs and defence costs.

*These product descriptions are summaries only. Cover is subject to the terms and conditions of each policy.