London Australia Underwriting says its ComTech IT liability product has been “hugely popular”.

The product offers combined professional indemnity, cyber and general liability insurance designed for the technology sector.

Key features include PI limits of up to $20 million per risk; cyber and privacy limits up to $10 million per risk; $20 million per risk for general liability; and continuous cover and automatic acquisitions and indemnity to third parties.

“Whether you’re a start-up building the next viral app or a national IT consultancy, ComTech offers modular, comprehensive coverage,” the Envest-backed underwriting agency said.

MD Declan Rye says Sydney is home to more than 3000 start-ups and Brisbane is emerging as a regional tech powerhouse.

“As tech companies scale, they face a unique blend of risks including failure of services or products, cyber threats and data breaches, intellectual property disputes and business interruption due to system failures or hacks,” he said. “These risks can be devastating, especially for start-ups and SMEs.

“That’s where ComTech steps in. It has been hugely popular in this market and is one of very few products that gives tech companies the right sort of coverage.”