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Insurance for IT Consultants


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Tailored Insurance for IT Consultants

You’re in IT consulting. Technology is your domain and your brain is wired to talk coding.

Despite how perfect your C-code is, or how unbreakable your firewall might be, you’re not a robot, and there are risks you face in your profession which may put your & your business’ financial health into jeopardy. Whether it’s a client alleging they suffered a loss due to a project you completed for them, or you are falling victim to a cyber-attack, unfortunate events can happen at any time to any business. Without adequate insurance cover in place, the impact of such events can have significant impact on your business, and even you personally.

If you operate your own IT consulting practice, there are a few types of insurance you may need to protect your business. While there may be legal requirements for you to hold a minimum level of cover, it is worth taking the time to speak to your broker and determining which insurance policies you may need. In our opinion, the most basic form of insurance required is Professional Indemnity Insurance, which can protect you and your business if a client alleged your services caused them financial loss. In addition to Professional Indemnity Insurance, IT Consultants may also need other forms of cover. If your work involves dealing with any members of the public, you might also need Public Liability Insurance. Business Insurance may also be a good option if you operate out of a physical business premises. If you use the internet for any part of your work, or store any client data, you may be susceptible to cyber threats so Cyber Insurance might also be of interest to you.

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So what types of insurance do IT Consultants need?

There are a few options which you can choose from, and you’ll need to decide which coverages you think you’ll need. If you are unsure, one of our experienced advisors can talk you through your options to help you decide.


Professional Indemnity
This may cover you for legal costs and compensation you’re ruled to pay which arise from a client alleging they’ve suffered a financial loss due to your advice.
Business Insurance
This insurance can cover the cost to repair or replace your premises or business property following a fire, storm, or vandalism, and can include your business loss caused by the interruption. Public Liability cover can also be chosen to cover you if a third party is injured or has their property damaged on your premises.
Management Liability Insurance
May cover you for losses incurred, including legal costs, where a Director or Officer has committed a wrongful act in their capacity as manager of the corporate entity.
Cyber Insurance
This may cover the expense and legal costs associated with a data breach, loss of client information or cyber-attack. Costs can include computer expert services, data recovery, ransom and legal costs.

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Frequently Asked Questions

If I’m an IT Consultant, do I need both PI Insurance and Public Liability?

Professional Indemnity insurance helps provide cover for claims made against your business by clients alleging that a service you provided caused them financial loss. Public Liability insurance helps you to pay the costs associated with a third party injuring themselves or damaging their property while on your premises, so you should consider this cover if clients visit your office, or you do on-site client visits. Public Liability can also be taken out as part of a Business Insurance policy or some PI policies.

I run my IT consulting business from home, what insurance do I need?

The insurance you need will vary depending on the nature of your work. As a minimum, you may wish to consider Professional Indemnity Insurance that may cover you if a client alleges your advice caused them financial loss. If you use the internet to conduct any aspect of business, or if you store any client data on your computer, we also recommend you consider Cyber Insurance. If you operate your business from home, it’s also a good idea to check the coverage under your Home Insurance to see what business-related risks are covered and decide whether you need to take out additional Business Insurance or Public Liability insurance.

How much Professional Indemnity Insurance do I need?

This will depend on a number of factors such as your business activity; your business needs, the size of your business and the clients you work with. Some clients may require you to have a minimum level of cover to work for them. Most PI Insurance policies start at a minimum cover of $1 million, but the minimum may not be enough for you, so you should speak to a qualified solicitor or financial advisor before deciding how much cover you need.

Why do I need Cyber Insurance?

If you use the internet for work, or if you store any client data, you may need Cyber Insurance. This may cover expenses and legal costs associated with a data breach, loss of client information or cyber-attack. Costs can include computer expert services, data recovery, ransom and legal costs.

Do I need to take out separate insurance to cover my employees?

Yes, if you employ staff, you will need to take out Workers Compensation Insurance. You can speak to your state regulator about your needs as coverage and legislation varies between different states.

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