Professional liability for technology providers

No. Professional indemnity insurance is not a legal requirement for technology providers.

Yes, as part of the insurance coverage, Zurich will also cover defense against invalid claims.

Yes, the legal protection provided for in the professional indemnity insurance is limited to civil liability law in connection with the insured loss event (passive legal protection). Our subsidiary Orion can, for example, offer you assistance in legal disputes that you are facing as an employer or contract partner (active legal protection). 

Yes. The scope of insurance also covers claims made against you or (in the event of your death) your surviving dependents, after the end of the contract.

Yes, your work as a technology provider is covered under the insured activity.

Depending on the type of activity, Zurich recommends a sum insured of 500’000 Swiss francs for smaller technology providers and 5 to 10 million Swiss francs for larger technology providers.

Yes. The activities not automatically insured are the ones related to 

• Design or manufacture of hardware (e.g., integrated circuit design, semiconductors, SCADA, computer chips); 
• Digital currencies (cryptocurrencies), credit card and payment service providers; 
• Human medicine, genetic engineering, and pharmaceuticals; 
• Computer, gaming and online games; adult entertainment, social networking; 
• Passenger transportation, autonomous driving, ship controls, traffic control technology, logistics; 
• Land, air, space or water vehicles; 
• Air traffic control or operations; 
• Military, weapons technology; 
• Nuclear facilities; 
• Enterprise resources planning (ERP), customer relationship management (CRM), or supply chain management (SCM) software development; 
• Financial services, blockchain or distributed ledger technology (DLT); 
• IT security solutions (e.g., software/hardware, security operation center, managed security services provider); 
• Software development for taxes, levies or tariffs (e.g. insurance, public transport, telecom, usage based pricing). 

The insurance cover for this must be checked or agreed individually.

The following professional groups receive a 10% combined discount on their business insurance:

• Lawyers, fiduciaries, consultants 
• Architects, engineers, planners 
• IT technology providers

The discount applies in the following cases:

• When taking out new property and liability insurance
  Your company takes out both new property insurance and new liability insurance at the same time — either business liability or professional liability insurance.
  
  You receive a 10% discount on both insurance policies.
  
  
• When taking out new property or liability insurance
  You already have property insurance with Zurich and now also take out Zurich liability insurance - either business liability or professional liability insurance - or vice versa.
  
  You receive a 10% discount on the newly taken-out insurance policy.

The discount does not apply in the following cases:

• If only two insurance policies from the same product category are taken out, for example two property insurance policies. 
• If the insurance contract to which the discount is to apply is not newly concluded, for example extension, adjustment, replacement, renewal or amendment of an existing contract. 
• If a minimum premium applies to the insurance contract for which the discount is to apply. 
• If you do not belong to one of the professional groups listed above.