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Technology Insurance – IT Insurance for Tech Firms

Available in all 50 states!

Our goal is to help your technology business thrive. Our IT Insurance program is packed with features to help you grow and succeed. Bankers is an independent insurance agency, so we have many technology insurance companies, will quote your coverage with several, and present you with your best options. As a part of our IT insurance program, we also provide many value-added tools and business services to help you run smoothly, efficiently, and lower your insurance costs.

Contact a Specialist

David Merriman


434.327.1643 | Direct
434.977.3954 | Fax
dmerriman@bankersinsurance.net

IT Insurance Program

Our Value Proposition

Our commitment to you.

  • A real person – a licensed insurance agent – will answer your questions, review your application, and shop your coverage with our insurance companies. We are your advocate.
  • We commit our time to understand your business, quote your IT insurance, advise you regarding risk exposures and available coverages, and to tailor an insurance package to your needs.
  • No call centers. If you decide to become a client, a licensed insurance agent will be assigned to your account and you will be given their direct phone number and email address.

Key Features *

What makes us different.

  • We are contracted with leading technology insurance companies that specialize in this industry.
  • Competitive pricing.
  • You can contact your assigned insurance agent by email or call directly. If they happen to be out that day, other agents are assigned to answer your needs.
  • Flexible payment plans.
  • Additional Insured: Automatically included when required by contract.
  • Waiver of Subrogation: Automatically included.
  • Workers Compensation Experience Modification Reviews: Make sure you are not erroneously overpaying due to mod errors.
  • Value-added tools and resources to help your business operate efficiently, increase safety, avoid claims, and save money.

* Features may vary by insurance carrier.

Business Operations

A wide variety of technology services acceptable:

  • Small businesses to multi-state operations.
  • IT services
  • Software developers
  • Systems analysis
  • Database administration
  • Hosting services
  • Technology consulting
  • Integration specialists
  • IT project managers
  • Online security specialists
  • System designers
  • Website developers
  • Application service providers
  • Hardware manufacturing
  • Hardware installation

We offer

Our technology insurance products:

  • General Liability
  • Professional Liability / Errors & Omissions
  • Data Breach / Cyber liability – forensics and notifications included
  • Property, Contents, Equipment
  • Workers compensation
  • Employment Practices Liability
  • Directors & Officer’s Liability
  • Umbrella/Excess Liability
  • Commercial Auto
  • Group Health, Group Life, and Group Disability
  • all Others

Technology Insurance Quote Request

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At Bankers Insurance, the client is always in control.

IT Insurance that keeps pace with your business.

All sectors of the tech industry continue to grow rapidly: IT services and consulting, software, hardware, semiconductors, communications equipment, and office equipment. No matter what services your contract requires, be sure you understand all your risk exposures. Bankers Insurance will perform a risk assessment of your operations and design an IT insurance policy to suite your needs. No matter how quickly your business grows, you’ll never outrun our technology insurance program.  Let us be your trusted insurance agent and advisor.

Available Coverages


Professional Liability / Errors & Omissions

technology insurance professional liability coverage. System security specialist working at system control center.

A complete technology insurance package should include professional liability. This exposure is not covered under your business’s general liability policy. A solid IT insurance program should protect your business against:

  • Unintentional breach of a written contract
  • Negligent misstatement or misrepresentation
  • Software copyright infringement

We recommend limits of at least $1,000,000, however it is not uncommon for IT contracts to require higher limits. The larger your business, the more assets you have to protect, therefore larger IT insurance limits are appropriate. Naming additional insured’s onto your technology insurance policy is no problem and and certificates of insurance are completed quickly and without charge. Our clients can even issue their own certificates if desired through our client portal.

Claim Examples:

In each of these examples, a professional liability IT insurance policy would provide coverage, even if no error was made.

  • ABC Developer, LLC is hired to design and build a turn-key interactive website for a communication company. ABC Developer fails to deliver the website on schedule as specified in the contract and the communication company must hire a different developer to finish the work. The communication company sues, claiming damages of $3,000,000, including increased costs to complete the website plus lost profits because of the delay.
  • A technology consultant is hired to increase a hosting company’s efficiency. The consultant advises implementation of several internal processes, however the recommendations are not implemented and productivity decreases. The hosting company sues for damages due to breach of contract.

Cyber Liability / Data Breach

IT insurance cyber liability insurance. Businesswoman typing on smart phone.

Modern cyber liability insurance coverage goes well beyond protection for a data breach. Being in the tech industry, you understand that threats are growing exponentially, making this a dynamic insurance coverage. Be sure your coverage will react to the newest risks. Reference our full cyber liability insurance page for full detail.

Cyber coverage can include protection against:

  • Unauthorized acquisition or access to sensitive information.
  • Unauthorized use or disclosure of sensitive information.
  • Legal Violation:  Of privacy law or consumer data protection law.
  • Negligence:  Breach of common law.
  • Breach of Contract:  Unintentional breach of a written contract or public facing privacy policy or confidential corporate information.
  • Regulatory Action:  Any civil action brought by a regulator in connection with the above.
  • Deceptive Trade Practices
  • Negligent Network Security:  Negligence by you or others on your behalf (subcontractors, outsourcers or independent contractors) in securing your computer system .
  • Emotional Distress:  Unintentional infliction of emotional distress in connection with a covered claim.

Property

technology insurance property contents equipment. Server racks with equipment in server room

Property insurance is a critical coverage, but often not given sufficient attention in a technology insurance package. Property does not only include your buildings and their contents and equipment, but also business income.  Since most tech companies derive income from their premises, be sure to consider business income coverage. Reference our business income calculator to help estimate your exposure.

  • Buildings
  • Contents
  • Equipment
  • Personal Property of Others while in your care.
  • Business Income – lost income as a result of damage to your building, contents, or even equipment.
  • Extra Expense – additional expenses due to the loss. Example: temporary office space.

Other Available Insurance Coverages

IT insurance workers compensation. Technical employee working in server room.

Our IT insurance packages are flexible and can cover all your exposures.

  • Workers Compensation
  • General Liability
  • Employment Practices Liability Insurance (EPLI) – wrongful termination, discrimination, harassment, refusal to hire.
  • Crime and Fidelity
  • Directors and Officers Liability
  • Identity Theft
  • Crisis Management
  • Employee Dishonesty
  • Group Health Insurance
  • Group Life Insurance
  • Group Disability Insurance
  • Group Long Term Care Insurance

Value-Added Tools and Resources

other business tools and resources. Hand tools arranged on a wooden table.

Bankers Insurance is your business partner. We not only provide technology insurance, but supply may additional tools and resources to help your business run efficiently and grow.

  • Complete risk assessments
  • Contract Review
  • Workers compensation experience modification analysis.
  • Employee Manuals able to be tailored to your business
  • Safety Manuals, Safety Training
  • OSHA compliance resources

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Why Bankers Insurance?

Anyone can be an order-taker.  Bankers Insurance is different.

We offer choices and expertise.  We don’t expect clients to be IT insurance experts.  Take advantage of our experience.  We can explain your options and help you determine the right coverages.

As your insurance agent, we strive to know you.   Only then can suggest the coverage that suits your specific business.  We look for coverage gaps to help ensure complete protection.  With us, you get the benefit of: