Managed Service Provider Insurance
Managed Service Provider Insurance
Managed Service Providers (MSPs) are the heart of digital business, and as such, a high target for cyber criminals looking for access to business data of clients serviced by your MSP business.
Along with compliance standards, contractual requirements, and providing security and maintenance for clients, this makes Managed Service Provider Insurance (MSP Insurance) a critical cover to safeguard your MSP Business.
What is Managed Service Provider Insurance
As a third-party business that manages client’s information technology, infrastructures, security, and employee systems (whether office based or remote), we understand the risks you face 24 hours of each working day. We offer a dedicated team of very experienced information technology brokers with access to specialist providers; this enables us to provide a partnered approach to protecting your businesses individual needs and support your future goals.
We also understand that many MSPs are different and as such, no two covers are the same. We do not offer an “off the shelf package” but prefer to consult and ensure comprehensive covers tailored to your specific needs.
Managed Service Providers Insurance Solutions
With each managed service provider having different insurance needs, we welcome a in-depth discussion to understand your business and services offered to your clients. With this information we can offer adequate and appropriate insurance covers to protect your business. Listed below are a few covers that most of our current MSPs find useful.
- Management liability
Ensure that your directors, officers, and key employees are protected from the financial repercussions of personal liability in the event of any defence costs and compensatory damages incurred following allegations against their actions and decisions made when acting on behalf of the company. - Commercial Combined Risks
Protection of the companies physical and digital assets and liability to employees and third parties for any negligent physical injury or loss. - Professional Liability
Cover for businesses when facing legal action from third parties or clients due to alleged unsatisfactory work or service, mistakes, and errors, missed deadlines, exceeding budgets and consequential losses.
- Cyber cover
A specialist team to provide forensic analysis, data recovery, PR and Legal services in the event of a cyber breach or hack as well as the resulting costs of potential lawsuits and penalties. - Cyber Crime
Protection from social engineering scams and fund transfer fraud to corporate identity theft.
Our Specialist Managed Service Provider Offering
- Specialist technology brokers with extensive experience within the sector
- Risk Mapping to support your future business growth.
- Specialist knowledge of global and overseas compliance requirements
- Risk Transfer advice and Solutions:
- Mergers and Acquisitions
- Sector Specific Statutory Requirements
- Jurisdictional Requirements
- Contractual Insurance Requirements
- External Service Providers
- Regular Contact and Strategy Reviews Throughout the Year
- Bespoke solutions to cover your unique business needs.
Why Choose Konsileo for Your Managed Service Provider Insurance?
Our dedicated technology team carry extensive knowledge of the sector and support many managed service providers throughout the United Kingdom. Having a specialist technology team places us in a unique position to understand your business and provide the appropriate covers needed to protect your Managed Service Provider business and your employees.
Call us today and speak directly to a member of our technology team.
Konsileo is a Gold Partner of Sci-Tech Daresbury
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Frequently asked questions
Managed Services Insurance is suitable for Managed Service Providers (MSPs), IT support companies, cloud service providers, network administrators, cybersecurity consultants, infrastructure providers, outsourced IT teams and technology consultants.
A policy can include Professional Indemnity Insurance, Cyber Insurance, Public Liability Insurance, Employers' Liability Insurance, Business Equipment Insurance, Directors' and Officers' (D&O) Insurance and Business Interruption cover, depending on your business requirements.
Yes. Whether you provide remote IT support, on-site technical services, cloud management, cybersecurity or network monitoring, Managed Services Insurance can be tailored to protect your business against the risks associated with delivering technology services.
Yes. Businesses providing cloud hosting, Microsoft 365 support, cloud migration, infrastructure management and software-as-a-service (SaaS) support can arrange cover tailored to their technology services and contractual obligations.
Many Cyber Insurance policies include cover for data breaches involving client information, subject to the policy terms and conditions. Cover may include forensic investigations, legal support, regulatory response costs and breach notification expenses.