Technology services liability
When a client points the finger.
Protection when a technology service is blamed for a cyber-related loss.
The scenario
A software developer provides a business-critical platform to a client. After a system issue causes significant disruption, the client claims the developer's technology contributed to the problem.
The developer believes the allegation is unfair. Investigations are still ongoing and the cause of the issue hasn't been fully established.
But regardless of who's ultimately responsible, the claim still needs to be addressed. Management time is diverted, legal advice is needed, and the costs of defending the allegation start to mount.
The challenge isn't just fixing the issue – it's dealing with the claim that follows.
The risks to consider
For technology businesses, cyber risk isn't limited to their own systems and data. It can also arise from the services they provide to clients.
Even if a business has done nothing wrong, responding to an allegation can be costly and time-consuming. Legal costs, claims expenses, and reputational concerns can begin to build long before liability is established.
The Markel difference
Markel's technology services liability cover can respond to claims alleging that a technology service has caused financial loss to a client.
This can help businesses manage the costs of defending a claim, as well as any damages and claims expenses covered under the policy. Backed by Markel's in-house legal and claims expertise, clients can access specialist support to help manage allegations, defend claims, and navigate what can often be a complex and time-consuming process.
Conversation starter
“What would happen if a customer claimed your technology had caused them a financial loss?”