Insurance for IT professionals / Information Technology Businesses – Protect Your Future
Professional Indemnity (Errors & Omissions Insurance) for IT professionals / information technology businesses should provide protection from unforeseen events that tend to occur when least expected. IT businesses need specialized insurance coverage because they operate in a complex and rapidly changing risk environment.
Technology is evolving so fast that you may be exposed to risks that you are not even aware of. The growth and survival of your IT business could depend on taking timely action and being prepared for such events.
You therefore need to partner with trustworthy insurance professionals who have the expertise to assess the specific risks you are facing & develop a plan to reduce your exposurers in the event of a claim. An insurance company that specializes in meeting the needs of IT professionals can help you to protect the time, money, and effort you have invested in building your business.
Techinsure.ie is the leading provider of IT Insurance Products in Ireland, please see our brief product video on www.techinsure.ie.
The best time to buy IT insurance is before an unexpected event occurs:
Businesses are facing more and more diverse lawsuits some of which can be extremely costly in terms of both time and money. Those who provide expert advice or professional services face the risk of professional liability lawsuits. They need insurance coverage for liability arising from products that do not perform and for errors and omissions.
IT professionals can be sued for alleged wrongdoing or negligence. These lawsuits could be for property damage, defective products, slip-and-fall accidents, and employee claims, or negligent advice or poor service provided.
The risks you may not be aware of
You are exposed to a variety of risks every day regardless of the size of your business. An unexpected event like a fire, theft, accident, or natural disaster can result in a loss of valuable assets on which your business depends. An oversight or mistake that affects a customer can have huge financial repercussions for a small IT business.
The potential claims that IT service providers can face due to errors and omissions in providing IT products or services can be enormous. Your customers may not fully understand what you do for them and how you do it, and they may have very high expectations.
You could be sued for an amount much larger than the total value of the job. If this happens, you will be very happy if you have a professional indemnity insurance policy that covers such a claim.
Not having adequate insurance coverage of the right type can expose your IT business to serious risk. You need to consult a dependable insurance company that is capable of assessing the specific risks faced by your business.More Information