Extensive additional cover
For industry-specific risks
- Insurance coverage for gross negligence
- Loss prevention costs
- Assumption of costs associated with investigation procedures
- Reputational damage
- Participation in court proceedings
- And much more...
Professional indemnity for technology providers in simple terms
In the video, you will find out which benefits are included in, and which damages are covered by, the insurance.
More details
FAQs
Downloads
Is professional indemnity insurance mandatory?
No. Professional indemnity insurance is not a legal requirement for technology providers.
Will I also get insurance coverage in the event of a loss for which I am not liable?
Yes, as part of the insurance coverage, Zurich will also cover defense against invalid claims.
The benefits of the basic insurance also include legal protection in criminal proceedings. Do I still need separate legal protection insurance?
Yes, the legal protection provided for in the professional indemnity insurance is limited to civil liability law in connection with the insured loss event (passive legal protection). Our subsidiary Orion can, for example, offer you assistance in legal disputes that you are facing as an employer or contract partner (active legal protection).
Does the insurance coverage continue if the policy is canceled due to business closure or death?
Yes. The scope of insurance also covers claims made against you or (in the event of your death) your surviving dependents, after the end of the contract.
Am I also insured in the event that I provide inadequate advice to a customer?
Yes, your work as a technology provider is covered under the insured activity.
What is the recommended sum insured?
Depending on the type of activity, Zurich recommends a sum insured of 500’000 Swiss francs for smaller technology providers and 5 to 10 million Swiss francs for larger technology providers.
Are there any activities as a technology provider that are not automatically insured?
Yes. The activities not automatically insured are the ones related to
- Design or manufacture of hardware (e.g., integrated circuit design, semiconductors, SCADA, computer chips);
- Digital currencies (cryptocurrencies), credit card and payment service providers;
- Human medicine, genetic engineering, and pharmaceuticals;
- Computer, gaming and online games; adult entertainment, social networking;
- Passenger transportation, autonomous driving, ship controls, traffic control technology, logistics;
- Land, air, space or water vehicles;
- Air traffic control or operations;
- Military, weapons technology;
- Nuclear facilities;
- Enterprise resources planning (ERP), customer relationship management (CRM), or supply chain management (SCM) software development;
- Financial services, blockchain or distributed ledger technology (DLT);
- IT security solutions (e.g., software/hardware, security operation center, managed security services provider);
- Software development for taxes, levies or tariffs (e.g. insurance, public transport, telecom, usage based pricing).
The insurance cover for this must be checked or agreed individually.
