Name: Technology Insurance
Brand: Alan Boswell Group
Rating: 4.9 (1420 reviews)

Technology Insurance

Technology insurance shields businesses involved in tech industries from risks like cyber threats, data breaches, intellectual property disputes, and contractual obligations.

Emerging & wireless technologies

Autonomous vehicles

Data analytics & IT software

AI, IOT, & FinTech

Our technology insurance products are designed to address the evolving risks faced by businesses in the fast-paced tech industry. From IT services and software development to artificial intelligence, data science, and cybersecurity firms, we offer tailored cover to protect your innovation and operations. We provide specialist, tailored insurance solutions that protect our clients against the risks they face within these sectors and provide customers with full risk appraisals.

Industries we support

Supporting businesses working across all areas of tech, including:

Software and app development

Hardware development

Computing, network and systems development

Cyber security

Artificial intelligence

Data science and analytics

FinTech

Education technology

What is technology insurance?

Technology insurance is a broad term that describes a range of insurance products that protect businesses in the technology sector. The policies you need will vary depending on your business activities and associated risks but cover can include, professional indemnity, cyber liability, intellectual property protection, and product liability. Policies can also safeguard against risks like data breaches, software failures, and legal claims related to breach of a written or verbal contract.

Why do I need technology insurance?

Businesses involved in tech innovation benefit from insurance that protects them from a variety of risks, such as data breaches, software failures, and intellectual property disputes. Without appropriate cover, your company could face costly legal claims, reputational damage, or financial losses from cyberattacks or faulty products. Technology insurance ensures you have the protection to continue your operations, allowing your business to grow. Often, having appropriate insurance will be a requirement of an investment agreement, ensuring your investors’ interest is protected. Even if you are a start-up or pre-revenue, you will have assets, employees, and intellectual property you’ll want to protect.

The Alan Boswell Group Difference

At Alan Boswell Group, we understand that the work our clients do in the technology industry is unique, and they need an insurance partner who understands their business and its risks—not an off-the-shelf package from a comparison site. With extensive experience in this specialised sector, we provide tailored insurance packages that address the specific challenges faced by technology companies. Our Cambridge office allows us to offer in-house claims management and specialised reviews of contracts, investment agreements, and NDAs, ensuring every aspect of your business is safeguarded.

We recognise the complexities of global exposure and varying regulations and provide comprehensive cover for cyber risks, protecting your intellectual property and professional indemnity risks. Whether you operate in the UK or are expanding internationally, our bespoke insurance programmes are designed to protect your assets and provide peace of mind for you and your investors.

How our customers rate us

Always a really friendly voice on the phone, with excellent advice.

Martin Cartwright, Raspberry Pi

4.9/5 1420 reviews

How we support technology businesses

Contract review service

We provide supplier and commercial contract, investment agreement, and NDA reviews, ensuring you understand your exposures and how you can protect your business.

In-house claims team

Our in-house claims team provides quick and hassle-free claims processing, ensuring you are supported throughout the process to reach a prompt and fair resolution.

Global expertise

Whether you’re a newly incorporated business registering in the US or an established multinational business, we understand global legal and regulatory jurisdictions, support your compliance, and protect your exposures.

Access to a wide range of insurers

As an independent broker, we have access to a wide range of insurers. This means we can search the market for an insurer that really understands your business, ensuring appropriate protection for your risks.

Cost-effective solutions

We offer tailored insurance packages designed specifically for start-ups and pre-revenue companies, providing affordable cover that can scale as your business grows.

Regular reviews

We know that businesses in the life sciences industry evolve quickly; by holding regular reviews with our clients, we can adapt your insurance to meet your current exposures.

Key business milestones

We have extensive experience guiding businesses through investment rounds, IPOs, mergers, acquisitions, and sales, and provide insurance packages that ensure your company is fully protected at every critical stage of growth and transition.

Professional connections

Using our extensive experience in the life sciences and technology industry, we’ve built up a network of trusted relationships with other professional services, including legal, financial, and investment firms.

Technology insurance in detail

The covers you require as a technology company can vary and include a range of different factors. That is why Alan Boswell Group have access to an array of specific policies to help technology companies get the best insurance. Your policy could include:

Public liability

Aside from customers' slips, trips, and falls, this would cover you for liability arising out of your day-to-day activities e.g. defective workmanship, faulty goods and services.

Cyber liability

Cyber loss or damage, business interruption and extra expense, cyber theft, and cyber extortion.

Breach of written and verbal contract

Resulting from products and professional services not conforming to the agreed specifications, or the failure of products to perform the function or serve the purpose intended, including any resulting claim from a written contract giving rise to liquidated damages.

Business interruption

Flexible first loss limit covering: gross revenue, increased cost of working, additional increased cost of working, project delivery costs, and research and development expenditure.