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INFORMATION TECHNOLOGY INSURANCE CASE STUDY

Software Firm, Two Policies Consolidated into One $10M Technology Liability Program

A Sydney software company approached us during its renewal. The expiring program ran across two policies and two insurers. We placed a single combined technology liability policy with separate indemnity towers, at a lower total cost and with the cyber section inside it.

01

THE SITUATION

A Sydney software company contacted Tank Insurance at the start of its renewal for technology professional indemnity, public liability and cyber cover. The expiring program was split across two policies: a technology package covering PI and public liability with the cyber sections uninsured, and a standalone cyber policy with a second insurer.

The combined expiring cost was around $58,500. The client wanted to understand its options and, if possible, simplify the program.

02

OUR APPROACH

Technology liability is a specialist market, and several of the markets in it had already been approached by the incumbent broker before we were engaged. We worked with the markets that remained and focused on structure as much as price.

  • One combined technology liability policy was proposed in place of two, with separate indemnity towers for each insuring clause so the PI, public liability and cyber limits did not erode one another.
  • Two technology markets declined the professional indemnity, and one cyber market declined the cyber section. One specialist technology insurer offered terms for the whole program.
  • The business pack was tendered separately to nine insurers for contents and property, with eight quotes from approximately $3,500 to $7,300 and one decline.
03

THE CHALLENGES

A remarket late in the renewal cycle is harder when other brokers have already been to the same insurers, because a market that has quoted once will not usually quote again for a second broker on the same risk. Being clear about which markets were still open avoided wasted submissions.

The second challenge was comparing like with like. A single combined policy with one policy fee is not the same document as two policies, so the comparison was done section by section, limit by limit, before any premium was discussed. The trade-off in the combined policy was a higher excess, $25,000 against $10,000 expiring, and a $15 million cap on any one claim across the liability clauses.

04

THE OUTCOME

The combined technology liability program was placed with CFC at approximately $54,000 a year, with professional indemnity at $10 million any one claim and $20 million in the aggregate, public liability and cyber included as separate insuring clauses.

Final Solution: One combined technology liability policy replacing two, at around $54,000 a year, approximately $4,500 less than the expiring program. The business pack was placed with Chubb at approximately $3,500.

The client now renews one technology program with one insurer rather than reconciling two policies with different wordings and exclusions.

This case records one historical outcome; current insurer appetite, premium, timing and terms depend on the complete risk at the time of application.

For the wider buying context, see our information technology insurance guide and the cyber insurance page.

TECHNOLOGY BUSINESS QUESTIONS

What this placement answers for other software and IT firms

Should a software company buy cyber cover inside its technology liability policy or separately?
Both structures exist. A combined policy with separate indemnity towers per insuring clause keeps one insurer, one renewal and one set of definitions, and in this placement it cost less than the two-policy program it replaced. A standalone cyber policy can suit a business whose technology PI insurer does not write cyber, or where a different cyber limit is required.
Why did some technology insurers decline to quote?
Two technology markets declined the PI and one cyber market declined the cyber section on this risk. Technology liability appetite turns on the software's use case, contract values, overseas exposure and claims history, and each insurer draws those lines differently. A decline is that insurer's appetite, not a verdict on the risk.
Can a broker remarket my technology insurance if another broker has already approached the insurers?
Partly. Insurers generally release terms on a risk to one broker at a time, so markets already approached are usually closed unless the client transfers them by letter of authority. A remarket then works with the markets still open, which is why timing and a clear list of who has been approached matter.

INFORMATION TECHNOLOGY INSURANCE

Put this placement in context

Case-study results are historical and are not a promise of current pricing, capacity or policy terms. This page is general information only and does not take account of your objectives, financial situation or needs.

Information technology insurance guideCyber insuranceProfessional indemnity insurance brokersHigh-limit professional indemnity

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Last updated: 06/09/2026

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