Insurance for IT & Technology Professionals (Trinity)
Alberta’s tech scene is thriving and making way for startups that are rising fast and expected to continue doing so over the years. To ensure the success of your tech business you need comprehensive insurance coverage. This insurance package is designed for independent technology consultants or that run their own business.
* NOTE: These policies are designed to be more economical due to less personnel handling being required. Once a policy is purchased online, any changes needed will result in extra administration charges for processing. Type carefully.
This package comes with Professional Liability related coverages. We also offer additional optional coverages to tailor your package based on your unique needs.
- Application Developer
- Cloud-based Service Provider
- Data Analyst/Consultant
- Hardware/Software Sales
- IT Consultant
- SaaS Provider
- Software Developer
- Software Developer – offering a marketplace for goods/services
- Website Developer
Coverage Amounts (Limit Options)
The following are the specific limit options available to you, depending on the coverage(s) you choose to purchase.
Limit/Coverage Amount– the highest amount the insurer will pay in the case of a claim.
Professional Liability – Included
If you or your employees provide advice or service, professional liability insurance is crucial. It helps cover the legal costs that can amass if a client files a lawsuit in the belief that your product, service, or advice caused them a financial loss. Even if the claim against you is illegitimate, professional liability covers the costs to defend yourself.
In the technology industry are many scenarios that could give rise to a lawsuit. Consider the following.
- Software you develop or install fails to perform properly.
- If you unintentionally infringe on your client’s intellectual property while installing hardware.
- A website developer uploads and publishes third-party images to a client’s site. They get sued for copyright infringement
In general, if the technology products or service you provide:
- Does not work as it should / was discussed.
- Isn’t delivered within the agreed timeline.
- Doesn’t meet the functionality that was agreed upon.
- Are provided while failing to leave out important, up to date information.
If any of these incidents occur, then you and your business can be blamed for the client’s financial loss.
Commercial General Liability – Optional
Professional Liability and Commercial general liability are two key insurance products that all technology professionals should have. General liability coverage protects you in case bodily injuries or property damage occurs as a result of your service, advice or service. Consider you accidentally drop a hard drive on your client’s foot, or a client trips on over a set of computer wires. General liability would cover medical expenses and legal costs if they decide to sue.
Contents Coverage – Optional
As a technology professional your equipment is vital to your success. Whether you own your building, lease an office, or work from home, contents coverage protects all assets inside your place of business. The contents or property normally covered against damage, theft, or loss include your computers, equipment, office furniture, machinery, and inventory.
Property Away From The Office – Optional
This coverage is for IT professionals who routinely take equipment or physical property with them while they work away from the office. This includes work cellphones, laptops, tablets, hard drives, software’s, etc. If you get into a crash and break a piece of equipment, this money will help you replace or repair it.
* All insurance coverage described is intended to be general in nature and subject to the applicable insurer’s specific policy wording, terms, conditions, and exclusions.