Technology Companies

Tech companies are on the rise in the UK and growth within the industry is set to surge in the next few years. First Insurance Solutions specialises in insurance for the technology industry, from self-employed individuals to corporate companies.

We understand the unique risks faced, which is why we offer technology insurance that is customised to your specific needs. Below are a few examples.

  • IT consultants
  • Application Service Providers
  • Database Administrators/Designers
  • Computer Consultants
  • Computer Programmers
  • Hardware Installation Experts
  • Integration Specialists
  • IT Project Managers
  • Online Security Specialists
  • Software Developers
  • System Designers
  • Website Developers

Companies operating within the technology industry are being requested to hold Professional Indemnity insurance as part of a contractual requirement laid out by their clients.
Professional indemnity insurance covers you for compensation you have to pay as a result of problems with your work, including compensatory damages and claimant’s costs awarded against you. Below are some examples of the potential claims that can arise in the technology industry.

Examples

  • The insured was asked to provide a computer software package for a client but it was inadequate for its needs.
  • An error in a technical brochure resulted in reprinting costs and damages for the client’s loss of business.
  • A commercial shown on television was submitted to the Insured who put the wrong soundtrack on it.
  • The Insured was asked to design and run a direct marketing campaign. The brochures were incomplete and wrongly addressed. The client claimed damages for the extra cost incurred and the loss of revenue.

At First Insurance Solutions we don’t believe in a “one-size-fits-all insurance solution. Our job is to take the worry out of insurance and arrange cover for you, so that you can get on with what you do best.

We will tailor policies with wordings designed for your needs. In addition to this we can also add the following cover to professional indemnity policies:

  • Breach of professional duty
  • Breach of contract
  • Dishonesty
  • Libel and slander
  • Breach of confidentiality
  • Intellectual property rights infringement
  • Inadvertent virus transmission
  • Cyber Liability

Benefits of First Insurance Solutions

  1. Independent insurance brokers able to access the whole of the market
  2. Trusted and competent advice giving peace of mind to our clients
  3. Professionalism, energy and enthusiasm for what we do
  4. Exclusive Insurer relationships
  5. We are not a call centre