Professional Indemnity Policy for Computer Services and Software developers

The Policy will indemnify the insured for loss resulting from insured’s wrongful acts. The wrongful acts must be by insured in performance of computer service for others for a fee. The wrongful act must take after retroactive date and before end of the policy period. The wrongful act means actual or alleged negligent act, error omission in the performance of computer services. However, the policy does not cover delay in performance or failure to perform any contract unless such claim is arising out of a wrongful act, liability assumed under any contract or agreement, actual or alleged intentional non-performance or default of any of the insured’s contractual obligations. The Policy may be extended to cover liability for loss of documents as also for employees dishonesty. Policy may be extended to cover (i) Loss of documents extension covering legal liability arising out of destruction/damage/loss of documents pertaining to insured’s customers which have been entrusted lodged or deposited with the insured. (ii) Loss of data extension covering legal liability arising out of destruction/damage/los of data pertaining to insured’s customers which have been entrusted, lodged or deposited with the insured. (iii) Dishonesty of employees covering liability of insured from any claim for fraud/dishonesty of any employee of insured (iv) Infringement of intellectual property rights covering compensatory damages for unintentional IPR infringements (v) Technology liability extension to cover hacking, virus attack, denial of service attack.

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