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Australia has a strong, diverse and fast growing technology based industry. As with any professional profession particularly those providing not only service but design Technology professionals are exposed to both personal injury and financial loss claims. Where in the past clients accepted a failing system as a part of business, they are now seeking to recover losses and expenses from technology businesses when their product or service does not meet the agreed scope and performance.
Mercantile are experienced with arranging and managing such programmes needed to give you the required protection from a range of local and overseas insurance options.
Industries
Data Storage, Data Processing and Data Warehousing
Hardware Maintenance & Installation Services
IT Consulting
IT Network Support
SCADA/PLC Services
Systems Integration Services
Website Design and Development
E-Commerce Application Development
IT Recruitment and Placement Services
IT Helpdesk
IT Project Management
Software Development, Design, Analysis and Programming Services
Telecommunications Services
Website Hosting Services
Insurance Policies
Professional Indemnity
Directors’ & Officers’ Liability
Employment Practices Liability
Statutory Liability & Supplementary Legal Costs
Crime Protection
Cyber Insurance
Claim Example
Example 1: A importer and manufacturer of Systems Interruption Power Supply back ups delivers a batch of faulty products. Within the first week of being in use a client system goes down and there is no emergency power back up due to the product failing. There is no personal injury or property damage a but the insured receives a claim from the client for pure financial loss due to the loss of their systems and time taken to reinstate the system.
Example 2: A technology consultant fails to follow the system designs and security requirements agreed for a clients database exposing 100,000 personal records to hackers with out any encryption. The clients insurer pays the Cyber claim but then recovers on the consulting company for errors and omissions in their service and product.
Call us today. Ph: 1300 310 467