IT and technology Sector
More than just cyber risks. Our comprehensive suite of services for high tech businesses
If your needs are more complex and call for other or special coverage, get in touch with our consultants today to ask for a dedicated proposal for your business.
It’s easy to think that the risk of cyber-attack is the biggest threat of all for the technology industry. But the truth is that this risk now affects almost all production industries, and due to their specific skill sets, high-tech companies are in fact better equipped than others to protect themselves against hacking.
This is not to say of course that they are completely invulnerable to this risk, but it does mean that there are many other risks which must also be considered, such as damages sustained by clients caused by malfunctions of the solutions sold. This holds particularly true, for example, for suppliers of cloud services and developers operating according to the software-as-a-service model, where instead of purchasing software products with a license, users pay a subscription fee to use a platform that is kept constantly up to date to the latest version and which stores user data remotely. In these cases, rather than a cyber policy, the most appropriate solution is an E&O (errors and omissions) policy, which protects the business against claims made by its user clients. After analysing the specifics of your business, our consultants will show you the best suited coverage package for your needs.
This is not to say of course that they are completely invulnerable to this risk, but it does mean that there are many other risks which must also be considered, such as damages sustained by clients caused by malfunctions of the solutions sold. This holds particularly true, for example, for suppliers of cloud services and developers operating according to the software-as-a-service model, where instead of purchasing software products with a license, users pay a subscription fee to use a platform that is kept constantly up to date to the latest version and which stores user data remotely. In these cases, rather than a cyber policy, the most appropriate solution is an E&O (errors and omissions) policy, which protects the business against claims made by its user clients. After analysing the specifics of your business, our consultants will show you the best suited coverage package for your needs.
