Technology & IT Insurance

Insurance that keeps pace with technology

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What is Technology and IT insurance?

Digitalisation in British society has evolved rapidly. Firms that drive these changes face unique challenges and opportunities for their businesses. These require a special understanding of such risks and appropriate insurance protections.

You will receive a comprehensive protection policy tailored specifically for your risk that meets your contract obligations. Contact us for further information about our services and insurance products.

Risk in the Technology sector

The Technology sector is diverse, and technology companies can face a multitude of hazards including professional indemnity, business interruption, material damage and cyber crime. At Aston Lark, customers benefit from an appointed representative on our claims team, technology insurance-focused account executives for renewals, help with improving risk management with the use of forensic specialists, and penetration testing to identify and control your risks.

How our Technology insurance team can help you

At Aston Lark, we understand the Technology sector and the need for your insurance to help mitigate risk and evolve with you. This puts us in a great position to understand the important factors when creating comprehensive insurance solutions and helping you if claims do arise.

We have multinational expertise, serving customers around the globe in the Tech and IT industry.

You will have access to a secure document portal for instant information exchange providing access 24/7 across the world.

Contact us to discuss your Technology insurance requirements

Risks faced by the Technology sector

Our team will ensure your policy is tailored to suit your business. You should be considering these insurance solutions to ensure continued business success:

Professional Indemnity cover

Professional Indemnity insurance will protect your technology business against any claims of negligence that result from perceived errors or omissions in your professional services. For example, a technology-based company could be found negligent if they unknowingly transfer a virus to clients through their online services.

Business Interruption cover

Covering your loss of profits in an unsecured environment can make a significant difference. If you are not able to open due to unexpected situations such as fire or flood damage, it may help cover the cost of your business’s loss.

Cyber insurance

Cyber insurance protects against damages that result from cyber attacks to your organisation’s technology or data — this includes stolen or damaged information, liability and recovery costs. This form of cover is especially crucial for technology-based organisations that rely heavily on cyber assets and data to conduct necessary business operations.

Directors and Officers insurance

Directors’ and officers’ liability insurance provides cover in the event that your organisation suffers losses due to the wrongful acts or negligence of senior-level leadership. This form of cover is vital to protect technology-based organisations, as strict regulations like the GDPR hold senior management responsible for various business disasters — both online and in person.

Meet our specialist insurance team

Our dedicated team is passionate about the sector and is here to help with your technology insurance needs.

Tom Montague

Tom Montague

Tom has been with Aston Lark and predecessor companies since 2013 and holds the Certificate in Insurance qualification. He has a passion for emerging technology stemming from his interest in and love for electric cars. His core focus is working with technology businesses in London and the surrounding areas to understand their risk and find new and innovative ways to manage their technology insurance needs.

Jack Durrant

Jack Durrant

Jack has been working with tech businesses since he joined the insurance sector in 2014 and holds the Advanced Diploma in Insurance qualification. With a deep understanding of technology products and services, Jack always looks for ways to maximise cover without compromising on insurance budgets. Jack focuses on hardware technology businesses and can advise you on everything from insuring manufacturing risks to cyber crime.

Frequently Asked Questions

What insurance do technology companies need?

This depends on the activities of the organisation. A company that designs new wearable technology, for example, would have a different risk profile to a FinTech client.

Some companies will have high-value property, stock, and a large workforce, whereas other tech companies might have fewer material assets but have concerns regarding intellectual property rights for emerging technologies or the possibility of future data breaches. You might also see very standard sections in your policy like legal expenses or stock and contents. Aston Lark can arrange bespoke cover to fit with tech companies’ needs.

Can you cover me if I'm a tech start-up?

Yes, absolutely. Insurers have great appetite for tech start-ups because they can grow quickly and provide insurers with the opportunity to find new and innovative ways to assemble policies for complex risks. It’s critical that tech start-ups seek expert advice to ensure that claims are covered and to implement strategies to reduce their risks.