Delta Insurance Australia launches comprehensive Technology Liability policy for tech companies

Delta Insurance Australia has launched a comprehensive package policy policy to protect the country’s tech industry from ever-increasing cyber attacks and data and network liability. Technology Liability covers a wide range of technology-based risks such as software failures, media exposures, cyber threats, loss of data, intellectual property rights and general liability. Underwriting manager Jacqui Warwick said the fast-paced technology sector needed a policy that would keep up with it.

“It has been purposely designed for technology and business service companies, to provide them with a comprehensive set of solutions to protect themselves against the evolving liabilities faced in today’s marketplace,” she explained.

Delta is now one of only a few companies in Australia with a dedicated technology policy that includes cyber.

Delta’s coverage protects a technology company from cyber-related claims arising from a professional service, extending to help mitigate the financial impact a cyber threat has to the business, all under the one policy.

Technology customers will also have access to a comprehensive incident response offering under the product.

Delta’s Technology Liability product includes the following coverage highlights:

Broad professional liability covering a wide range of technology-based services and products, as well as professional indemnity coverage that is integrated into the policy to address on-technology professional services.

Defamation, invasion of privacy and plagiarism, intellectual property, copyright or trademark infringement, mental anguish and emotional distress, website and offline media liability.

Broad coverage for liability resulting from a data breach, network security breach or violation of a privacy policy.

The customer will have access to a broad range of legal and forensic services, notification services, call centre services, credit monitoring, identity monitoring or other personal fraud or loss prevention solutions, and public relations and crisis management costs in the event of a security or data breach.

Coverage for interruption to a business resulting from a network security breach or system failure of a company’s computer system.

Coverage for provision of money, digital currency, goods or services in order to end or prevent an extortion threat.

Covers the costs to regain access to, replace, or restore compromised data.

Regulatory defence and penalties.