IT Professional Liability Insurance

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Understanding IT Professional Liability Insurance.

There are many risks involved in working in the IT industry, whether you are a software developer or a consultant. Public liability insurance is required if you work with the public as part of your business. This will ensure that you are covered in case of a claim.


It’s professional liability insurance that protects against claims made against clients for negligence or mistakes you made in your work. EasyCover allows you to create the policy that you desire by selecting the coverages and levels you require.


What Is IT Professional Liability Insurance?

If you’re an IT contractor or employee working in the technology industry, clients could accuse you of providing negligent service or advice when the technology fails and take legal action against you.

Many businesses have Cyber Liability Insurance and Commercial General Liability Insurance, but these won’t cover you should you be accused of providing faulty professional service or advice causing financial loss

Fortunately, EasyCover offers IT Professional Liability Insurance (also known as Errors and Omissions Insurance). This unique form of coverage can protect you when the unexpected happens with your clients’ IT hardware and software.


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Who Needs IT Professional Liability Insurance?

Many types of businesses require IT professional liability insurance due to the products and services that they offer.


  • Information technology and software specialists, such as website designers, computer consultants, system integrators, federal government IT contractors, manufacturers of hardware and electronic components.


  • Companies providing electronics, such as consumer electronics, computers, communications equipment


  • Providers of telecommunications services and integrated communications services, such as carriers of local exchange, long distance telecom carriers, and providers of Internet/application services.


Why Do You Need IT Professional Liability Insurance?


Avoid Financial Turmoil

Complexity can result from technology-based products and services. A small oversight or error can have huge financial consequences.

Your firm can be financially protected if a client is unhappy by having professional liability insurance. Your company could be held responsible for professional mistakes or omissions if it doesn’t have the right insurance. Your business could be hit hard by lawsuits, settlements, or other costs.


Gain Clients Trust

Professional liability insurance can be a sign to clients that you provide a guarantee about the quality of your services. With insurance, you have financial protection that will reimburse customers if there is an error or omission. This can help customers feel assured.

If you do not invest in IT professional liability insurance, your business would be responsible for all costs related to a defective product or service, as well as legal fees incurred to defend against potential lawsuits from clients. Small businesses can be at risk of bankruptcy due to costly lawsuits or settlements.


Protection from the Unexpected

It is easy to believe that the worst won’t happen, but small businesses can be easily shut down by one catastrophic event. Protecting your business from potential risks, such as human error, accident or illness, data breach or property damage, is crucial for keeping your company healthy.


Your company’s financial protection is provided by business insurance. You can protect your capital and time investments by purchasing insurance. Gain greater peace of mind knowing you have insurance that covers you for any adverse events and ensures your business’ continued operation.

Our EasyCover PL Insurance Brokers can help you assess the risks and recommend the best plans.


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Types of IT Professional Liability Insurance You Need

Typical scenarios for claims include:

  • Professional indemnity insurance:

    Indemnity insurance for professionals is available to protect you from any legal action or claims that may be made against your company. It is important to be covered in case of an unexpected. Professional indemnity insurance covers legal fees to defend or settle a claim or correct a professional error.

  • Intellectual property infringement:

    After creating a website for a client, a third party claims you’ve violated their intellectual property rights by using their tagline.

  • Breach of confidentiality:

    You unintentionally email a file containing confidential information related to your client while working on their IT infrastructure.

  • Software failure:

    A software product you develop or install fails to perform properly, causing direct financial losses for your client when they have to wait for the product to be re-installed or fixed.

  • Data Breach Insurance:

    Data breach insurance can help you protect your business from data breaches. It is also useful for small business owners. Cyber liability insurance is generally for larger businesses. This policy provides greater coverage to help prepare for and respond to cyberattacks.

    Hackers have the ability to target personal identifiable information, as well as personal health information, that you store on your business’ computers. It is important to have cyber liability or data breach insurance in place to help protect your business and allow you to quickly respond after a breach or cyberattack..

Read More:

Can a Software Failure lead to a Lawsuit?

Is Cyber Liability Insurance enough coverage for It Contractors?

IT Professional Liability Insurance

IT professional liability insurance covers cases such as your client losing a month of billing data because of your software, or your installed equipment prevents your customer from ordering online, or your cloud-based data service failed to back up critical data.

IT professional liability insurance, overall, protects your business against errors, omissions and negligence as well as product failures.

Get your free IT professional liability insurance quote with EasyCover now with just a click of a button.


General Liability Insurance

The first policy an IT company requires is General Liability Insurance. Your clients are entrusting you with their technology. If it is damaged, they may hold you responsible. General liability insurance protects clients’ property and prevents third-party injuries. This insurance is required often when you sign commercial leases.

  • General liability insurance offers coverage for:
  • Client injuries
  • Client property damage
  • Advertising injuries, such slander

Learn more about what your policy can include when you reach out to our expert insurance brokers. Get a free IT professional liability insurance quote now.


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How Much Does IT Professional Liability Insurance Cost?

Tech E&O is a popular option for most tech entrepreneurs. The median cost is anywhere between $59/month or $708/year. Depending on your risk, you may pay more or less.

IT professional liability insurance is a cost-intensive service that depends on the following factors:

  • Location
  • Risk level
  • Your coverage limits and deductible
  • Number of employees
  • Insurance history

Get the best professional liability insurance prices with EasyCover expert brokers. Apply for a free IT professional liability insurance quote now.


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IT Professions Protected by EasyCover.

IT Professions We Cover

At EasyCover, we offer IT Professional Liability Insurance for a wide range of roles, including:

Instant IT Contractor Insurnace

Get IT Professional Liability Insurance from EasyCover today.

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Areas We Serve

  • Calgary
  • Edmonton
  • Halifax
  • Ottawa
  • Regina
  • Saskatoon
  • St. John’s
  • Toronto
  • Vancouver
  • Winnipeg