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Information Technology Insurance: Quick Quote

QUICK QUOTE

IT Business Insurance – Protect Your Digital Assets

In an ever-changing digital world, IT companies face unique risks: cyberattacks, professional errors, service interruptions, contract disputes… Protect your growth with customized insurance for the IT industry.

3 Strands
RC, E&O, D&O
$1M to $5M
Usual limits
2 min
Quick Quote
AMF
Certified brokers
Information Technology Insurance in Quebec

At a glance

Information technology can also be provided

If you need to have a guarantee for the company’s assets, subscribing to information technology insurance or IT insurance is the solution. Insurance companies are well positioned to answer any questions about the terms and conditions of IT insurance coverage.

The days of insurance that do not cover the web sector due to a lack of adequate offers are now over. In today’s world, insurance companies now offer insurance policies tailored to the expectations of IT professionals. It is therefore possible to take out insurance for goods of a technological nature.

For example, there is property coverage, which includes all the equipment in the company’s or a professional’s assets. The insurance policy also includes civil liability. This second point includes attacks on physical integrity for which the company is responsible. That is to say, accidents that have injured other people. Thirdly, there is error and omission insurance. This includes intellectual property infringements, hacking and other types of criminal acts.

In addition, small businesses can also purchase information technology insurance. We can think that only the big brands can afford this type of insurance coverage. However, insurance services are now offering offers that are extended to all purchasing powers.

A non-exhaustive list of points that IT insurance covers

Civil liability

  • This point is part of the basic offers offered by insurance companies, whether for the information technology sector or for other sectors. As a reminder, civil liability is mobilized for any damage caused to others or to materials by the policyholder. To be prepared for all eventualities, it is advisable to determine in advance the limits of what insurers call the real risk. This is essential to protect a company from the consequences of a claim or a lawsuit if necessary.

Executive risks

  • Executive risks are guarantees that the managers of a company have in the event of mismanagement, for which they are responsible. In the event of legal proceedings, the insurance policy covers the expenses incurred. Executive risks are rather addressed to the members of the board of directors within a company or to the executive head himself. In insurer jargon, executive risks are also known as “D&O”.

Professional Liability

  • Also known as errors and omissions insurance, professional liability covers errors that fall within the scope of professional competence. This may be due to biased advice that has resulted in financial losses for a client. The reason can also be an omission or simply a design error of a particular product or service, such as a programming error. For all these types of professional errors, the insurance policy covers the costs of any legal proceedings. As with executive risks, professional liability is an insurance coverage that corresponds to the needs of a company manager while being adapted for staff further down the hierarchy.

*Text for illustrative purposes only, refer to a broker.

💡 Broker’s advice

IT companies often have three separate policies : commercial general liability (RC), errors and omissions (E&O/professional liability) and cyber risks. As of 2023, insurers require minimal cybersecurity measures (MFA, offsite backups, EDRs) to offer cyber coverage. Have your posture validated with an Assur360 broker before bidding.

Frequently Asked Questions — IT Insurance

What is information technology insurance?
IT insurance includes several types of protection designed for companies in the technology sector: software publishers, consultants, SaaS, integrators, web agencies, MSPs, hosting providers. It typically combines commercial general liability, professional liability (errors and omissions), cyber coverage , and, for incorporated companies, directors and officers (D&O) insurance.
What is the difference between RC, E&O, and cyber?
Commercial liability covers bodily injury or property damage caused to others (a customer slips at your desk). Errors and omissions (E&O) cover financial losses caused by malpractice (bug, bad advice, non-compliant deliverables). Cyber covers computer incidents: ransomware, data leaks, notification costs, interruptions. The three are complementary, and a broker can combine them into a single policy.
How much does IT insurance cost for an SME in Quebec?
The price depends on the turnover, the number of employees, the services offered, the clientele (public vs. private) and the limits chosen. For an IT SME with fewer than 10 employees and a turnover of less than $1 million, you generally have to plan between $1,500 and $4,500 per year for a combination of RC + E&O + cyber with limits of $1 million to $2 million. Request a free quote for a specific price.
My customers require proof of insurance — what should I do?
More and more contractors (large companies, public bodies) require minimum limits in their contracts (often $2 million in RC and $2 million in E&O) as well as an “additional insured” endorsement. Your Assur360 broker issues a certificate of insurance on request in the client’s name within 24-48 hours, at no additional cost.
My company is self-employed/freelance. Do I need IT insurance?
Yes — especially for professional liability (E&O). A single bug charged to a customer can result in a lawsuit far exceeding your annual revenue. Many freelancers work through contracts that already require coverage. There are products specifically for self-employed workers with limits starting at $500,000, accessible from $35 to $75/month.
Does Bill 25 impact my IT insurance?
Yes. Since September 2023, Bill 25 (modernization of the protection of personal information) has imposed strict obligations on companies that process personal data in Quebec: notification of incidents, protection officer, registry, privacy impact assessment. Cyber insurance covers the costs of investigations, notifications and administrative fines (up to $25 million or 4% of global turnover) within the limits provided. It has become almost unavoidable for Quebec IT companies.
What cybersecurity measures do insurers require?
Since 2023, cyber insurers have been refusing or increasing the price of files without minimum hygiene. The usual prerequisites: multi-factor authentication (MFA) on all admin and VPN accounts, offline or immutable backups tested, antivirus/EDR on all workstations, patches applied, anti-phishing training, incident response plan. A broker helps you complete the cyber questionnaire (often 40 to 100 questions) and structure your file.
What to do in the event of a disaster (bug, data leak, ransomware)?
Three reflexes: (1) contact your broker or the insurer’s hotline immediately — most cyber policies include a 24/7 response team (cybersecurity experts, lawyers, PRs). (2) Do not pay a ransom until the insurer authorizes. (3) Keep all evidence (logs, emails, contracts). Assur360 supports you in the compensation process and in communication with the insurer.
Can I combine my IT insurance with other coverages?
Yes, many insurers offer packages for IT companies that combine property (equipment, servers), business interruption, LIABILITY, E&O, cyber and, optionally, D&O. Bundling coverage with the same insurer often reduces the overall premium by 10% to 20%. Your broker compares several insurers to identify the best combination.

IT Insurance Anywhere in Quebec

Assur360 supports IT companies in all regions of Quebec: Montreal, Quebec City, Laval, Gatineau, Longueuil, Sherbrooke, Trois-Rivières and Saguenay. Whether you’re a SaaS publisher in Montreal, an MSP in Quebec City or a web agency in Sherbrooke, our AMF-certified brokers know the realities of your market.

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