More than just insurance
Insurance for Technology Companies
As a technology specialist, you might face new and emerging risks as your business grows. We can help you find the right insurance and risk management measures to keep pace with changes in your industry and ensure that your business remains protected at all times.
How are the insurance needs of a technology business different?
The technology sector is typically fast-moving, lucrative and global. Remote working and the use of freelancers can both be more prevalent too. All of these factors have potential implications in terms of insurance and risk.
The exact cover you need will depend on the nature of your business and the specific types of work that you do. We have experience of arranging insurance for the likes of software developers, web developers, CAD designers and more.
If technology lies at the heart of the work you do, it’s essential that you’re clear on the risks you face and how best to manage them. We can work with you to achieve that clarity and create an insurance and risk management programme to address your risks cost-effectively and help you plan ahead.
Helping you manage your Health & Safety obligations
Because you work closely with technology, the following are particularly relevant for your business:
- Professional Indemnity Insurance – this would protect you if a client pursued you for losses arising out of any advice, code, designs or specifications that you provided.
- Cyber Liability Insurance – this protects you against any hacks, data breaches or online fraud, which can be very relevant if you handle client data or information.
- Trade Credit Insurance – large bills are common in the technology sector and this cover can help you protect against the effect of non-payment by clients.
The following are some of the more established insurance covers bought by most businesses. These are equally relevant for technology businesses:
- Material Damage cover for any buildings, business equipment and stock you may have.
- Business Interruption, to protect against loss of revenue following a claim under your Material Damage cover.
- Public and Employers’ Liability to protect the public and your employees in the event of an injury or financial loss.
There may be other covers that you need as well as those mentioned above. Given the nature of the technology business, we may need to arrange multiple policies including specialist covers. If so, we would look to arrange these with common renewal dates to make your arrangements simple and manageable.
How we can help with insurance for your technology business
We’ve helped many businesses with their insurance requirements since 1924, including a wide variety of different technology businesses. Now, as part of the JMG Group, we’re a top-30 UK insurance broker. Our strong relationships with insurers – including those with wide experience of the technology sector – will help us to find you the right cover at competitive premiums.
We work with you to build a thorough understanding of your business, your clients and the work you do. From there, we recommend the right insurance cover and risk management measures for your needs.
In the event of a claim, we work with you and the insurers to establish your losses and help you resolve your claim as promptly as we can, without taking up a great deal of your time and resources.
Contact us to discuss insurance for your technology business
If you’d like to arrange a quote, or simply to discuss your insurance needs, contact our Liverpool office or our Gloucester office and we’ll be happy to discuss your requirements with you.