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Contact UsTechnology & Telecommunications
Industry-Specific Knowledge
Technology and Telecommunications (T&T) firms face a wide range of risks that can impact their operations, reputation, and bottom line. Some of the highest risks that T&T firms may face are Cybersecurity Risks - With the increasing reliance on digital systems, T&T firms are vulnerable to cyber attacks, data breaches, and ransomware attacks, which can compromise sensitive customer data and disrupt business operations; Compliance and Regulatory Risks - Failure to comply with regulatory requirements, such as GDPR, HIPAA, or FCC regulations, can result in fines, penalties, and reputational damage; Intellectual Property (IP) Theft - The theft of intellectual property, such as patents, trademarks, or trade secrets, can result in significant financial losses and damage to the company's competitive advantage; Operational Risks - Failure to manage operational risks, such as supply chain disruptions or manufacturing errors, can impact the company's ability to deliver products and services to customers.
Insurance Solutions Recommended
Professional Indemnity Liability Insurance (PI)
Covers errors and omissions while providing professional services, including mistakes, missed deadlines, and cost overruns, including liability relating to design miscalculation leading to property damage or an oversight that delays a project’s completion
Learn moreCyber Liability Insurance (CLI)
Protects against data breaches and cyber-attacks leading to increasing IT costs, ransomware, business interruption, reputational damage etc…., which are increasingly relevant for firms storing and processing client sensitive data and operating on a worldwide internet/digital environment like professional services firms
Learn moreEmployees benefits and Healthcare (EB&H)
IIB provides advisory to build the most robust and adapted employees benefits scheme that fits your operations, size and HR strategies. We also provide broking services for Healthcare, Workers’ Compensation Insurance (WCI) and Personal Accident (PA)
Learn moreOther insurance specific to a T&T firm
can be negotiated on a case by case basis: Technology Errors and Omissions (TEO) Insurance: covers errors or omissions in software development, data processing, and other technology-related services; Environmental Liability Insurance: covers environmental pollution or contamination caused by your company's activities; Product Liability Insurance: This policy covers product defects or malfunctions that can result in injuries or damages to customers.
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