Engineering & Technology Firms Insurance

At Insurance Broking Services, we understand the unique challenges faced by engineering consultants, technology companies, and IT service providers. Professional indemnity is the cornerstone cover for both sectors, but the way it operates — and the gaps it can leave — are frequently misunderstood. Engineering PI is mandatory in most Australian states and territories as a condition of professional registration, is written on a claims-made basis, and carries long-tail exposure, meaning a design defect or certification error may not surface for years after the work was completed. The retroactive date must be carefully maintained at renewal, and run-off cover is essential when winding down or changing insurers. For technology firms, PI and cyber cover two distinct but often simultaneous exposures: a client may claim that how an IT consultant managed their systems caused a breach — a PI claim — while the consultant also suffers their own ransomware incident requiring a cyber response. Standard IT liability policies combine PI and public liability but do not provide comprehensive cyber coverage, and this gap is where technology businesses are most vulnerable. Cyber attacks via business email compromise and funds transfer fraud now represent the majority of claims in the sector, and initial ransom demands have surged — with the average ransomware event involving both encryption and data exfiltration. We leverage our industry knowledge and insurer connections to build tailored insurance solutions for your situation, ensuring your professional advice, your systems, your client data, and your business are properly protected.