In the ICT sector, technological developments follow each other in rapid succession. This has a major impact on the liability risks ICT companies face. These risks are so dynamic and complex that it may be wise to take out specialised insurance to cover them.

Blue Risk has developed a special package for startups and scale-ups, fully tailored to the dynamic nature of this type of business. An optimal combination of coverage, price and scalability.

Based on this expertise, we proudly partner with TechLeap and Yes!Delft.

What is insured?

Pure third-party financial loss and legal aid due to errors in service.
Defective product: damages suffered by third parties arising form failure to perform a contract, incorrect or carelss service or due to the provision of a defect product.
Infringement of intellectual property rights.
Reputational damage for violating the reputation of others through, for example, libel or slander.
Depending on the insurer: cyber risks. Liability for damages suffered by third parties as a result of cyber attack.
Depending on the insurer: third-party costs for reporting loss of personal data or cyber extortion.
Failure to collect a claim, if this van prevent a liability claim.
Repayment of funds already received, as part of the overall claim.
Legal assistance
Usually, Corporate Liability Insurance (employers' liability, material damage and third-party injury) can be co-insured. This is often cheaper than insuring it seperately.
Coverage area is wolrdwide, excluding US and Canada. US and Canada can be co-insured for certain companies.

What is not insured?

Already known circumstances of loss before policy commencement
Environmental Pollution and Directors’ Liability
Fraud and intent
Penalty clause, indemnity clause, guarantee clause, warranty clause or similar clause, except where the liability would have existed even without such clause
Infringement of intellectual and industrial property rights, such as copyright and patent rights as well as unfair competition (Blue Risk does have specific policies for intellectual and industrial property rights!)

For whom?

Any technology provider for software development, technology services and consulting, telecommunications services, installation and maintenance, data processing, internet services, data and application hosting, computer system analysis, training, programming, systems integration, IT support and network management, IT security consulting and services, and Internet of Things

Premium indication

Premiums from €1250, not including 21% Insurance Tax. We can send you a quote within 1 day, comparing 4 top insurers. There insurers are truly specialised in your field of work.

FAQ's

Is a Professional Liability insurance mandatory?

A Professional Liability insurance is not mandatory for ICT companies. however, many situations are conceivable for which it makes sense or is necessary to take out such insurance. After all, anyone can make mistakes and the damage can be (very) great. A customer, client or industry organisation may also require or demand it of you.

What is the difference between Corporate Liability and Professional Liability?

With the Corporate Liability Insurance, only damage to persons or property is insured, but not pure capital loss. Capital loss is financial damage caused by professional errors such as incorrect advice. With a Professional Liability Insurance, you are insured for this risk.

Can i deviate from my Terms and Conditions?

You are not obligated to adhere to any specific Terms and Conditions. Deviating from these or accepting clients' Terms and Conditions is not a problem. You do not have to submit this to us for approval. However, we do advise you to seclare the Terms and Conditions wherever possible, as this limits you liability towards third parties.

What does "insured capacity" mean?

The insured capacity indicates what kind of activities you perform. The insurer estimates the risk on this and could exclude activities in a claim if they were not aware of this. It is very important that the insured capacity is defined in such a way that its covers all activities. Make the description as broad as possible and check this capacity yearly.

Does the insurance provide coverage in the US and Canada?

No. Claims brought in the United States and/or Canada (or bsed on the law of these countries) are excluded. Insurers do not offer this cover by default because the claim amounts and legal representation there are many times higher than here. Is some cases, we have cover for this exclusion and can then provide cover for this jurisdiction as well.

What does Prior Acts Coverage and Extended Reporting Period mean?

Prior Acts Coverage

This are claims whose cause predates the start of the insurance, but are discovered during the policy period. This so-called inherent risk is not covered by default, but can sometimes be purchased for an additional period. This allows you to insure yourself against damages that are not yet known, but could potentially arise.

Extended Reporting Period

The opposite of Prior Acts Coverage: damage that manifests after the insured period has expired, but whose cause falls within that period. Again, you can insure against this ERP cover for a number of years. This is often offered by insurers after termination.

My company is being held liable. What now?

As soon as you are found liable, you should report it to us. We advise you not to admit liability immediately, but to submit it to the insurer first.

Does Blue Risk advise on other insurances?

Absolutely. We are specialists in complex risks, but are happy to help you protect agains some of the more mundane business risks. Think of corporate insurance for buildings, inventory, transport, business damage, accidents, business travel and employee insurance.

We don't advise on pension and other life insurances.

Does the policy also cover liability for third-party products and services, such as suppliers?

There are insurers who cover this, but certainly not all of them. Make sure you look at the difference carefully.

Does the policy cover breach of warranties?

There are insurers who cover this, but certainly not all of them. Make sure you look at the difference carefully.

Is loss of customer data and software covered?

There are insures who cover this, but certainly not all of them. Make sure you look at the differences carefully.

Is liability damage covered as well as the damage suffered by your company itself?

Yes. This is covered.

Are you covered if you risk increases due to the change in business activities?

There are insures who cover this, but certainly not all of them. Make sure you look at the differences carefully.

Are third-party cyber extortions and its costs covered?

There are insures who cover this, but certainly not all of them. Make sure you look at the differences carefully.