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INSURANCE FOR CONNECTED TECHNOLOGY & SMART HARDWARE BUSINESSES
IoT (Internet of Things) and smart device manufacturers operate at the intersection of hardware, software, cloud connectivity and cybersecurity. Whether you produce smart home devices, industrial IoT sensors, wearable technology or connected control systems, your insurance programme must address both physical product risk and digital exposure.
Insure24 structures specialist IoT and connected hardware insurance programmes covering product liability, cyber risk, professional indemnity, recall exposure, property damage and supply chain disruption.
Key Risks in IoT & Smart Device Manufacturing
- Product malfunction: hardware or firmware failure causing damage or injury
- Cyber vulnerability: devices exploited by hackers
- Data breach exposure: unauthorised access to customer information
- Regulatory investigations: data protection or consumer safety enforcement
- Product recall: large-scale device withdrawal or firmware patching
- Intellectual property disputes: patent or software infringement claims
- Supply chain disruption: semiconductor or microcontroller shortages
Core Insurance Covers for IoT Manufacturers
- Property Insurance: manufacturing and assembly facilities
- Machinery Breakdown: production and testing equipment
- Business Interruption: income protection following insured events
- Products Liability: third-party injury or property damage claims
- Professional Indemnity: design and software development liability
- Cyber Liability: ransomware, data breach and regulatory defence
- Product Recall Insurance: recall management and rework costs
- Directors & Officers Insurance: management liability protection
Why IoT Businesses Need Combined Hardware & Cyber Protection
Unlike traditional electronics manufacturing, IoT devices remain connected after sale. This ongoing connectivity increases exposure to:
- Remote exploitation of device vulnerabilities
- Software update failures
- Cloud service interruption
- Customer business interruption claims
A combined products liability, professional indemnity and cyber structure ensures alignment between physical and digital risk.
Protect Your IoT & Connected Hardware Business
From prototype development to global product distribution, Insure24 can structure insurance aligned to your IoT risk profile.
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FREQUENTLY ASKED QUESTIONS
Do IoT manufacturers need cyber insurance?
Yes. Connected devices create cyber and data protection exposure that is typically not covered under standard manufacturing policies.
Is product recall insurance necessary for smart devices?
If devices may require large-scale withdrawal, patching or firmware correction, recall insurance can protect against significant financial impact.
Can customers claim for business interruption caused by device failure?
In some cases, customers may pursue recovery. Products liability or professional indemnity insurance may respond depending on policy wording.
Are regulatory investigations covered?
Cyber or management liability policies may include regulatory defence costs subject to terms and limits.
Can Insure24 review our IoT insurance structure?
Yes. We can assess your risk profile and recommend a combined hardware and cyber insurance solution.