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Cyber-attacks, client disputes, faulty outputs. When your AI business faces a very human problem, it pays to have the right protection.
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Professional indemnity insurance defends you against claims of negligence, breach of confidentiality, dishonesty, libel and slander. We offer up to £5,000,000 cover.
Running an AI business comes with a lot of risks. The quality of your product, service, and advice is everything to your customers. They rely on it to help their business succeed.
When something goes wrong, it can cost both you and them a lot of time and money. Legal battles, technical recovery, business disruption. You get the idea. That’s when it pays to have the right business insurance in place.
Cyber insurance steps in to cover you if you’re hit by a data breach or your computer system is compromised by cybercriminals.
Professional indemnity insurance has your back if you’re accused of negligence, like failing to meet your contractual requirements, or pushing a model update that doesn’t meet the mark.
Public liability insurance protects you against claims of injury or property damage. Like one of your sales team dropping a cup of coffee on a client’s laptop, or a visitor falling over a loose cable at your offices.
Together, they give you the financial and legal support you need to keep generating good outcomes for your business.
Because you sell software, services, and advice that customers rely on. What happens when it goes wrong? They turn to the person who provides that service: you.
Without insurance, it’d be up to you to manage any claims. That means paying for and handling your own legal defence, doling out any compensation you might owe, and adding a lot more stress to your day-to-day. Not fun.
If a cybercriminal’s the cause, it’d be on your shoulders to get your systems back up and running. That includes any legal and PR support you might need after the fact.
When one bad model update, hallucinated output, or data breach can lead to an expensive and time-consuming claim, it pays to have the right protection in place.
Not to mention, many clients, investors, and enterprise partners will expect your business to have insurance in place before they sign on any dotted lines.
Almost any business, freelancer, and sole trader who works within the AI industry.
Whether you’re an AI-powered SaaS provider, model trainer and developer, an AI cybersecurity company, or anything in between. If your business develops, trains, implements, or consults on AI, you should have AI business insurance:
You’re personally exposed to the advice and services you deliver. Having the right protection in place means you can avoid the stress of managing a lengthy legal battle. As well as the weight of legal costs, whether a claim is your fault or not.
On top of the advice you give, you’re responsible for protecting the data you store and process. And the security of any AI services you provide. The right cover protects this side of your business too and ensures you can recover financially and reputationally from a cyber-attack or data breach.
It depends on the nature of your business.
For all AI businesses, professional indemnity insurance (PI) and public liability insurance (PL) are the most important types of insurance to consider.
PI covers you if a client claims you’ve made a mistake, given poor advice, or delivered work that wasn’t up to scratch. It pays your legal fees and any compensation you might owe. Which can get very costly, depending on the situation.
PL is important if you ever visit a client’s offices, or they visit yours. It covers injuries and property damage that are your fault. Like spilling coffee on a client’s laptop, or a visitor tripping over a loose cable at your office.
If you operate your own AI software, service, or model, you also need to consider cyber insurance.
If you’re hit by a cyber-attack, it pays for expert help to recover your systems, provides legal and PR support, and offers optional extra cover for financial loss and social engineering.
After all, you’re dependent on your servers and models operating at the highest level. One effective cyber-attack could put you out of action for hours or even days. Without the right support, you’d be left with a hefty bill and a lot of unhappy customers.
Read more about what cyber insurance does and how it covers you.
It depends on a few things, like:
But don’t worry, you can get a quote in just a few clicks and this’ll give you an exact cost. If you’re not sure what’s right for you, our friendly advisers are on hand to help. Give them a call on 0345 561 0320.
We understand AI businesses and the unique risks they face. We know you don’t have time to waste on insurance that doesn’t properly cover you and your industry.
We make things quick and simple too. You can buy cover online in minutes. Or you can call our expert advisers who have a wealth of experience getting the right insurance for AI businesses.
Best of all? If you need to make a claim, we have a dedicated claims team. They’ll advise and guide you through the entire process.
Want proof we know our stuff? We’re rated Platinum by Feefo for customer service.
And if you refer someone to us, we’ll say thanks with a reward.
