(http://www.it.optimuminsurance.com.au/Blog/tabid/209/entryid/44/What-is-Information-Technology-Liability-Insurance.aspx) - Information Technology Liability Insurance is a tailored policy for the Information Technology & Telecommunication Industry. Each insurance company has a slightly different name for their product, however essentially the product is a combined Professional Indemnity and Public and Products Liability Insurance under the one policy.

1. What is Information Technology (IT)
Professional Indemnity & Liability
Insurance?

2. Tailored Policy for the IT Industry
Information Technology Liability Insurance is a tailored policy for the
Information Technology & Telecommunication Industry.
Each insurance company has a slightly different name for their product,
however essentially the product is a combined Professional Indemnity and
Public and Products Liability Insurance under the one policy.

3. Compare Insurance Quotes & Buy Online
To obtain a quotation, enquire online at www.it.optimuminsurance.com.au
As every business is different, we have several options for businesses to
obtain quotations:
•
Comparative Quotation – this option is ideal for businesses with under
$2million turnover. You can obtain a quotation specific for your businesses
needs and purchase cover online.
•
Online Application – Business’s exceeding to $2million turnover, please
complete the online proposal form. This will enable a quotation to be
provided based on your specific business needs.
In most circumstances we are able to provide an quote over the phone. If
you would like to discuss your needs further, contact us on 1300 739 861.

4. Product Name By Insurance Company
Outlined below are the insurance companies and their associated product
names:
American International Group (AIG):
Information Technology Civil Liability Policy Wording
AXIS Specialty Europe Limited:
IT Legal Liability Policy
Brooklyn Underwriting Pty Ltd:
Combined Information Technology and Telecommunications Legal Liability
Insurance Policy
CGU Insurance Limited:
Information and Communications Technology Liability Insurance Policy

5. Product Name by Insurance Company
Chubb Insurance Company of Australia Limited:
Premier or Standard Information and Network Technology Liability Insurance
Package Policy
Dual Australia Pty Limited:
iTech Information Technology Policy Wording
Liberty International Underwriters:
Errors & Omissions Liability Insurance Policy for Information Technology
Organisations
QBE Insurance (Australia) Limited:
Information and Communication Technology Liability Insurance Policy
Zurich Australia Insurance Limited:
Technology and Communications Sectors Professional Liability Insurance

6. What Does Information Technology
Liability Insurance Cover?
It covers claims for:
• Civil liability arising from the provision of Information Technology (services,
advice, specification or work); and
• An occurrence that causes personal injury or property damage in
connection with the insured's business and/or products

7. What are the Benefits
•
Peace of mind with additional cover that is tailored for the IT industry,
covered by the one insurer (both the Professional Indemnity and
Broadform Liability under the one packaged policy), and reducing the gap
between the Professional Indemnity and Broadform (General) Liability
covers.
•
Saving time completing only one proposal form for two policy covers,
allegations are defended by experienced and professional legal
representatives.
•
Reduces lost income by reducing an interruption to their business with
professionals handling any defence, and cover for legal costs provided.

8. Who is Covered under the Policy?
The policyholder as named in the policy schedule as issued by the insurer
including Principals, Directors, Partners, Employees and some policies extend
to cover contractors that work on your behalf.
The policy schedule should be in the legal trading entity(s) and should
include any subsidiary companies and prior entity(s) (if applicable).

9. What is Commonly Not Covered
•
Faulty Workmanship - Claims for the cost of performing, completing,
correcting or improving any work done or undertaken by the policyholder.
•
Product Recall and Repair - Claims for compensation for damages that
have been claimed for the withdrawal, inspection, repair, replacement or
loss of use of the policyholder‘s products.
•
Contractual Liability - Claims for compensation for personal injury or
property damage under any contractual liability assumed by the
policyholder only by agreement unless it would have existed without the
agreement or implied by law.
•
Information Technology Exclusion - Claims in connection with any
computer virus, or the design of any computer hardware or software.

10. Examples of Claims Covered
• Breach of Duty and/or Confidentiality - A mistake or failure by a
professional to exercise the required level of skill that causes financial loss
or injury; or failure by a professional to preserve the confidence of
information acquired during their professional appointment, and used to the
detriment of their client.
• Errors or omissions - Arising out of mistakes that lead to loss of data,
and the subsequent financial loss; or unintentional infringement of
copyright.
• Alleged Negligence - Arising out of the failure of uninterrupted uptime of
the networks or systems; i.e. the time the system or network is continually
running or operating, or the adequacy of the security of the networks or
systems.

11. Examples of Claims Covered
• Unintentional Defamation
• Dishonest or Fraudulent Acts
• Loss of, or Damage to Documents/Data
• Unintentional Infringement of Copyright, Patent, Design,
Trademark or Circuit Layout Rights (Intellectual Property) - There
is generally no cover for intentional breaches/acts causing third party loss
with reckless disregard for consequences and some policies limit exclude or
provide limited cover in this area.
• Defence and Investigation Costs
• Costs to attend Disciplinary Proceedings and Enquiries

12. Compare Insurance Quotes & Buy Online
To obtain a quotation, enquire online at www.it.optimuminsurance.com.au
As every business is different, we have several options for businesses to obtain
quotations:
•
Comparative Quotation – this option is ideal for businesses with under
$2million turnover. You can obtain a quotation specific for your businesses
needs and purchase cover online.
•
Online Application – Business’s exceeding to $2million turnover, please
complete the online proposal form. This will enable a quotation to be
provided based on your specific business needs.
In most circumstances we are able to provide an quote over the phone. If you
would like to discuss your needs further, contact us on 1300 739 861.

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14. Contact Us
Phone
Fax
Hours
Email
+61 1300 739 861
+61 1300 732 225
9.00am to 5.00pm (EST)
Monday – Friday
service@optimuminsurance.com.au
Website
www.it.optimuminsurance.com.au
Presentation Disclaimer –– “This material contains general information only and may not suit your
particular circumstances. To decide if a policy is right for you please carefully read the relevant Product
Disclosure Statement (PDS) and/or Policy wording. A copy of the PDS or policy wording is available by
contacting our office on 1300 739 861;”
Disclosure Statement – “Optimum Insurance Services Pty Ltd is a Corporate Authorised
Representative of Insurance Advisernet Australia Pty Ltd (Car No. 291220), Australian Financial Services
Licence No 240549, ABN 15 003 886 687.”