Industries / Technology and digital
Technology and digital: the covers businesses usually need
IT consultants, software businesses, web designers and managed service providers build and run systems that other businesses depend on. When those systems fail or are breached, the client looks to the supplier.
What can go wrong
The exposures that drive claims in technology and digital.
A system that fails
A software release breaks a client’s ordering system, or a migration loses data. The client claims for lost revenue and the cost of fixing it.
A breach that starts with you
A managed service provider with remote access to many clients can be the route into all of them. Claims can come from each affected client.
Contract terms
Client contracts often require specific limits of professional indemnity, cyber and public liability, and can extend the supplier’s liability beyond what the law would otherwise impose.
Your own systems
The business’s own data, email and banking face the same ransomware and payment fraud as any other business.
NoteTechnology liability combines technology professional indemnity and product liability, with cyber and general liability sections. It is written for businesses whose product or service is technology.
Covers the lookup lists
What the industry lookup lists for typical businesses in this industry.
These are the results of the Cuttleflow industry lookup (release exp-0.7.0) for the businesses below, before any questions are answered. Answers about staff, vehicles, premises, contracts and the state change the list. Covers the lookup lists only as “consider” are left out here. Every class on the Commons wordings is available on Cuttleflow Go; “On Cuttleflow Go” links to the class. A Marketplace class is also placed by brokers through the Cuttleflow Marketplace.
- IT consultants · APRA ACMCON Computer Consultants
- Software developers · ANZSIC 7000 Computer System Design and Related Services
- Web designers · APRA ACWCON Web Design
- Managed service providers · ANZSIC 7000 Computer System Design and Related Services
| Cover | Lookup tier | Where it is written | Listed for | Why it is listed |
|---|---|---|---|---|
| Workers compensation | Must have Compulsory where it applies | Statutory scheme (depends on state) | All of these businesses | Employers must hold workers compensation cover in every state and territory, apart from limited wage-based exemptions. Depends on: how many employees does the business have, not counting owners. |
| General liability | Recommended | On Cuttleflow Go | All of these businesses | Almost every business deals with customers, visitors or other people's property, so it can be held liable for injury or damage. |
| Professional indemnity | Recommended | On Cuttleflow Go | All of these businesses | This occupation gives advice or a professional service that clients rely on, so an error can cause them financial loss. |
| Technology errors and omissions | Recommended | On Cuttleflow Go | All of these businesses | Software, systems and IT services can fail and cause clients financial loss. |
| Cyber | Recommended | On Cuttleflow Go · Marketplace class | All of these businesses | Financial and IT occupations hold sensitive client data and systems access. |
| Business package | Recommended | On Cuttleflow Go · Marketplace class | All of these businesses | The business has premises, stock or equipment that fire, storm, theft or water damage could destroy, and it would lose income while it rebuilds. Depends on: does the business have premises, stock or equipment at a fixed site. |
| Commercial motor | Recommended | On Cuttleflow Go · Marketplace class | All of these businesses | The business owns or leases fewer than ten vehicles used for work. Depends on: how many vehicles does the business own or lease for work; does the business own or lease vehicles used for work. |
| Motor fleet | Recommended | On Cuttleflow Go · Marketplace class | All of these businesses | Ten or more vehicles can be insured as a fleet, priced partly on the fleet's own claims record. Depends on: how many vehicles does the business own or lease for work. |
| Management liability | Recommended | On Cuttleflow Go · Marketplace class | All of these businesses | Claims against the company and its directors and managers, employment claims, some fines and penalties, and employee theft. |
Classes on the Commons wordings
Classes for this industry on Cuttleflow Go.
Brokers
Win clients in technology and digital
Put the industry lookup and an indicative price on your own channels, and take leads from the public marketplace when it opens. Place every risk once, with every market in the class, on the same wording.
Underwriting agencies
Write this business on Cuttleflow Go
Your own rates and rules on the Commons wordings, quoted to your brokers from day one and to Marketplace brokers when the class opens.
General information. This page is not advice about any business and does not recommend any insurer or product. The lookup’s rules are a first draft and have not yet been reviewed by an underwriter or a lawyer. Check each cover against the circumstances and the policy wording, and check compulsory insurance with the regulator in the relevant state. Industry classes: Australian Bureau of Statistics, ANZSIC 2006 (cat. no. 1292.0), © Commonwealth of Australia. Professional occupations: APRA National Claims and Policies Database.
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