OREANDA-NEWS. December 04, 2009. The insurance contract covers risks of damages to customers caused by the policy holder during delivery of IT infrastructure development and services projects, software development and deployment. The aggregate liability limit on the contract is USD 3 million.

Professional indemnity of the systems integrator provides its customers with extra assurance of project implementation quality and IT investment security warranty.

 “Professional indemnity is not a prerequisite for IT companies to operate in the Russian market, while in the West it is considered a regular business standard. We are focused on guaranteeing to our customers maximum protection of their interests and at the same time we strive to promote development of a civilized IT services market in our country. Professional indemnity insurance does not mean we can reduce our project delivery standards. At the same time it enables us and our customers to confidently develop our business and build reliable partnerships”, said Nil Vereschagin, corporate finance vice-president of Asteros Group.

According to Dmitry Shaposhnikov, Head of the Financial Institutions Insurance Department of Ingosstrakh IJSC, the professional indemnity contract is the result of diligent professional effort of all the parties. Ingosstrakh has been covering IT risks for over a decade. Over the period the company has accumulated vast experience in insuring a broad spectrum of unique IT risks not only for professional IT market players, but for other organizations that are one way or another related to use of computer systems and networks. The company has developed partnership ties with a number of international reinsurance companies, specializing in this type of coverage for IT companies all over the globe.