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Insurance for technology and telecommunications
In a technology company, the main risk is not a fire but an error in the service, a system outage or an attack affecting client data.
Activities we advise on
Oller Brokers has been an insurance broker since 1952. It advises technology and telecommunications businesses on the design, placement and review of their insurance programmes, with access to more than 70 insurers.
We advise technology companies with business clients. We review cover against what client contracts require and look in the market for better terms for the whole programme or for a specific policy.
- Software and IT servicesSoftware development, SaaS, integrators, technology consultancies, IT outsourcing, etc.
- Telecommunications and data centresOperators, network installers, data centres, cloud services, etc.
Risks and cover
Choose a risk to see which insurance covers it in the programme of a company in the sector.
Risk
Errors in the service
Client claims for failures, delays or non-performance of the software or service.
How it is covered
Risk
Cyber attacks
Ransomware, data leaks and interruption of your own and your clients' systems.
How it is covered
Risk
Contractual requirements
Contracts with large clients require specific limits and cover.
How it is covered
Risk
Equipment and infrastructure
Damage to servers, networks and data centres.
How it is covered
Risk
Directors and investors
Claims against directors in growing companies or companies with investors.
How it is covered
Insurance they typically need
Every company is different. These are the policies that carry most weight in the programme of a company in the sector.
- Cyber insuranceIncident response, business interruption and data-related claims.
- Technology professional indemnityClient claims for failures of the software or service.
- D&OClaims against directors and officers for their management decisions.
- All risks property damageBuildings, machinery and stock against any damage not excluded.
- Business interruptionYour margin and fixed costs while operations are halted by a loss.
- General liabilityDamage to third parties caused by the business activity and premises.
- Key personFinancial loss to the business if a key person is lost.
- Employee benefitsHealth, life, accident and savings as part of the remuneration package.
Two ways to get started
Full programme review
We analyse all your policies together: duplicated cover, gaps, sums insured, deductibles and exclusions. We then present alternatives from different insurers.
Review of a specific policy
A renewal with a premium increase, a contract requiring new cover or a poorly resolved claim. We examine that policy and look for better terms.
Large risk programmes
A medium-sized or large company does not need a stand-alone policy, but someone to design, place and defend a complete programme. That is what we have been doing since 1952. See more
- Risk analysisWe study the business's activities, facilities, contracts and claims history. Working with specialist firms, we also offer a risk management service.
- Properly valued sums insuredWe review insured values and business interruption so that a claim payment is not reduced due to underinsurance.
- Access to the whole marketMore than 70 Spanish and international insurers, underwriting agencies and Lloyd's through coverholders.
- Co-insurance and excess layersWhen a risk exceeds one insurer's capacity, we spread it through co-insurance and structure it in as many excess layers as needed.
- International programmesFor groups with subsidiaries outside Spain, we coordinate international programmes that comply with each country's regulations.
- In-house claims teamSupports the business from notification through to settlement and defends its position with the insurer.
Frequently asked questions
What is the difference between cyber insurance and technology professional indemnity?
Cyber insurance covers incidents suffered by the company and their consequences. Professional indemnity covers client claims for errors in the service. Many technology companies need both.
A client is asking me for a very high liability limit. What should I do?
We review the contract and look in the market for cover that meets it, or suggest how to adjust the clause.
Does a start-up need D&O?
If it has investors or a board of directors, it is advisable: directors can be held personally liable, with their own assets, for damage caused by acts contrary to the law or the articles of association or by breaching their duties.
Other sectors
Can't see your sector? We work with businesses in every field.
Let's talk about your business
We review your insurance programme, or the policy you're concerned about, with no obligation.