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INSURANCE FOR FAILED OR DELAYED SOFTWARE PROJECTS
Protecting Your Business from Project Risk and Liability
Software development projects can face delays, budget overruns, or outright failure, potentially leading to client disputes, financial loss, or reputational damage.
Insurance for Failed Software Projects from Insure24 provides cover for financial losses, legal claims, and liability arising from project failures, ensuring your business is protected even when projects do not go as planned.
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What Does Insurance for Failed Software Projects Include?
Key protection to mitigate financial, legal and reputational risks.
- Financial loss due to project delays, failure, or incomplete delivery
- Professional Indemnity coverage for software design, development and consultancy errors
- Legal defence costs arising from client disputes over project performance
- Claims for breach of contract or failure to meet agreed deliverables
- Optional cyber and data protection liability cover
- Coverage for projects delivered in-house or via subcontractors
- Mitigation of reputational risks and associated costs
- Support from specialist claims and risk advisors
Common Risks for Software Projects
Typical causes of claims and financial exposure in software development.
- Failure to meet client specifications or requirements
- Delays in project delivery or missed milestones
- Errors in code, architecture, or software integration
- Subcontractor or vendor failures impacting project delivery
- Breach of contract or SLA disputes with clients
- Loss of anticipated profits or reputational damage
- Legal claims for negligent project management or consultancy advice
Why Software Companies Choose Insure24 for Project Failure Coverage
- Access to specialist insurers experienced in software & SaaS project risks
- Policies tailored for UK-based software companies of all sizes
- Guidance on managing risk across multiple projects
- Rapid issuance of insurance certificates for client or investor requirements
- Flexible limits to match project scale and client contracts
- Support with claims management and mitigation strategies
How to Arrange Insurance for Failed Software Projects
- 1. Identify the software projects or client contracts requiring coverage
- 2. Provide details of budgets, timelines and delivery milestones
- 3. Share subcontractor involvement or external dependencies
- 4. We approach specialist tech and PI insurers for quotes
- 5. Select limits and coverage appropriate for your project risk
- 6. Insurance documents issued promptly for compliance and client assurance
SUITABLE FOR A WIDE RANGE OF SOFTWARE PROJECTS
- Custom software development projects
- SaaS and cloud-based solutions
- Data analytics and platform projects
- Subcontracted software or IT consulting engagements
- UK-based and international client projects
- Projects at risk of budget overruns, delays, or scope creep
FREQUENTLY ASKED QUESTIONS
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What does insurance for failed software projects cover?
Covers financial losses, legal claims, and liability arising from project delays, scope failures, or unmet deliverables.
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Is this suitable for SaaS and cloud projects?
Yes. Tailored for SaaS, cloud, and platform projects, as well as traditional software development.
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Does it cover subcontractor-related failures?
Yes. Projects involving subcontractors or third-party vendors can be included in the coverage, subject to policy terms.
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Can it cover client disputes and breach of contract claims?
Yes. Legal costs and compensation for claims arising from failed project delivery are covered within policy limits.
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How quickly can cover be arranged for a project?
Coverage can often be arranged the same day, particularly for straightforward software projects with clear scope and staffing details.