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IT Professional Insurance
It takes skill to be able to build, repair, install, test, or maintain hardware and software. However, no matter the experience you possess, there is always a chance that something can go wrong. Purchase IT Professional Insurance for guaranteed protection for you and your business.
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APOLLO and Gallagher Partner to Protect Your Business
We've partnered with Gallagher, one of Canada's leading insurance brokers, to provide insurance designed for businesses and business professionals. Get professional liability, general liability, and/or contents insurance designed specifically for your profession.
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There are three kinds of insurance an IT professional needs
Professional Liability Insurance
Professional liability insurance, also known as errors and omissions insurance for IT professionals, responds to lawsuits claiming a business owner provided unsatisfactory, negligent, or falsified services to a client.
General Liability Insurance
General liability insurance for IT professionals is the most basic form of coverage that absorbs any fees associated with accidents that occur during day-to-day business operations. Typically, this policy is used against third-party claims of property damage or bodily injury.
Contents Insurance
Contents insurance for IT professionals covers any damages or losses that occur due to a covered peril. Possessing this kind of policy is especially important if an IT professional owns or leases a workspace and stores any company-owned equipment.
Whether you’re an IT freelancer or own your IT business, protection is a necessity.
As an IT professional, your clients are counting on your expertise to build, operate, and maintain the technologic systems that run their businesses. Though you strive to provide exceptional service, that doesn’t guarantee something won’t go wrong. IT work can be complex, and if a client were ever unsatisfied with your work, then they may feel obliged to take legal actions, regardless of fault. In this kind of scenario, you may face expensive legal and compensation fees, and without insurance, you’ll be forced to pay out of pocket.
Since the technology industry is constantly evolving, you must constantly be aware of the kind of risks your profession faces. Without a professional liability insurance policy, it immediately threatens you and your business’ financial stability if ever sued. From missing a deadline to exposing clients to data breaches, you can face a lawsuit at any given moment for a mistake you make on the job. That is why possessing a form of professional liability insurance is imperative, as it is designed to absorb those costs so that your IT company won’t have to.
Ultimately, insurance as an IT professional is necessary for securing the future of your business, personal assets, and professional career. Not only do you get the peace of mind that comes with knowing you will not be financially liable in the event of a lawsuit, but you’ll always know you’re protected in every situation
Why do IT professionals need insurance?
IT professionals typically have access to confidential information. Their skillset plays a significant role in planning, managing, and implementing the software that their clients use on a daily basis. By handling other people’s property, any professional service they provide comes with an inherent risk that requires insurance.
Larger, more established companies often require proof of general liability and professional liability insurance from IT professionals to ensure their service is legitimate. Therefore, with these kinds of businesses, insurance will often be mandatory for an IT professional to even be considered for a job.
IT professionals can face a lawsuit if one of their clients were to experience a security breach. Regardless of who’s at fault, it can be very costly for an IT company to defend itself against these kinds of allegations, especially if they’re a small firm or solopreneur company. To ensure this type of risk isn’t detrimental, an adequate insurance policy is vital for the planning, operation, and risk management of any sized business.
What types of risks do I face as an IT professional?
As an IT professional, you’re expected to provide a variety of technical services and expert advice to your clients. Though you may be skilled at what you do, that doesn’t mean you won’t make a mistake, and with that, there’s a possibility that a client can allege error or omission in the work you perform. In this scenario, you may face a lawsuit, and regardless of fault, this can be extremely costly to defend.
If your IT company has an office or leased space, you, your employees, and your clients could be at risk. Whether an employee slips, trips, and falls or your client were to lose their laptop on the premises, you may be liable regardless of fault. To avoid incurring any additional legal or medical expenses, your business must obtain a general liability policy to absorb these costs.
Though unlikely, there is still a chance that an unexpected event like theft or flooding can occur at your business location. The extreme damages and losses that can occur because of these incidents are costly, and if not paid promptly, you could potentially risk losing your business entirely. To prevent this from happening to you, seek out the support of a trusted insurance company that is willing to offer you safe, reliable, and affordable coverage.