Codex TechShield
ICT Liability & Cyber Insurance
PRODUCT OVERVIEW
Tailored coverage for the modern technologist
In an era where technology and data security are paramount, the Codex TechShield policy wording provides a comprehensive insurance solution designed for individuals and businesses engaged within the Information Communications Technology (ICT) sector.
This specialised policy form caters to the diverse risks associated with digital operations, from professional negligence to cyber threats, ensuring that your enterprise remains resilient and secure.

SECTIONS OF COVER
Comprehensive coverage that's seamlessly packaged
Technology Professional Indemnity & Cyber Liability
Protects against third-party claims alleging civil liability arising from ICT related services or products, as well as from security or privacy breach events. Includes cover for compensation and defence costs, addressing both professional liability and cyber-related third-party exposures.
Cyber Crisis Response & Reimbursement
Provides direct loss and expense cover for the financial and operational impacts of cyber incidents. Includes crisis response costs, business income loss from system interruptions, digital content recovery costs, and ransom payments related to events such as security breaches, ransomware attacks, and system outages. Designed to support swift, effective responses while minimising disruption and reputational harm.
Public & Products Liability
Covers legal liability for personal injury or property damage in connection with the business operation. This coverage is essential for addressing third-party claims that can arise during the regular conduct of business, ensuring operations can continue unhindered by legal disputes.
PRODUCT FEATURES
Industry-leading coverage and extensions

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Broad civil liability based professional indemnity and cyber liability operative clause.
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Complimentary one hour legal review of a standard commercial contract related to ICT services or products.
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Additional increased cost of working coverage for extra expenses incurred to maintain operations following a cyber event, including costs that exceed normal operational spend.
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Separate stand-alone limits per section of cover.
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Full-limit intellectual property infringement coverage including patent and trade secret infringement.
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Event cancellation coverage of up to $100,000 for non-refundable deposits or charges from cancelled or postponed events due to a cyber event.
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Fee refund/waiver coverage of up to $500,000 to promptly resolve client dissatisfaction claims.
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Business income loss coverage of up to 365 days that includes contingent income loss caused by third-party providers.
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Product recall expenses coverage of up to $500,000, including costs to recall products due to defects causing actual or potential injury or damage.
CLAIM SCENARIOS
Explore our extensive coverage through
illustrative claim examples
Claim Scenario
A software development firm failed to properly test a banking software update, leading to widespread errors in customer accounts. This negligence resulted in significant financial losses for clients and damaged the reputation of the end-client, leading to legal proceedings against the firm.
Codex TechShield Solution
Claim Scenario
An IT service provider signed a contract to deliver a custom CRM system to a retail company by a specific date. The provider fell behind schedule and failed to meet the agreed deadlines without a valid reason, causing the retailer to miss their critical sales period. The retailer sues for damages stemming from the breach of contract.
Codex TechShield Solution
Claim Scenario
A tech startup copied the user interface design and unique features of a popular software application from a competing company, incorporating them into their own product. The original creators noticed the similarities and subsequently filed legal proceedings against them for copyright and patent infringement.
Codex TechShield Solution
Claim Scenario
An internet service provider experiences a major failure in its primary data centre due to outdated security protocols, leading to a network outage that affects thousands of businesses and private users. The incident also exposed sensitive data which resulted in multiple claims against the provider for failing to adequately secure their network and data.
Codex TechShield Solution
Claim Scenario
A mid-sized software development company fell victim to a sophisticated ransomware attack that encrypted critical project data and demands were made for a significant payment to release the decryption key. The attack disrupted the company's operations, delaying product launches and causing considerable revenue loss.
Codex TechShield Solution
Upon discovering the ransomware attack, Codex Insurance immediately deployed its cyber crisis response team to contain the breach and began data recovery efforts. Legal experts were engaged to handle negotiations, and financial coverage was provided for business interruptions and data recovery costs. Additionally, support was provided to the company to further enhance cyber defences and managing public relations to minimise reputational damage. This comprehensive approach ensured quick recovery and bolstered future resilience against such cyber threats.
Claim Scenario
A mobile app developer collects user data such as location and browsing habits without making users adequately aware or obtaining their consent. This practice was discovered and reported by a privacy watchdog, resulting in legal action for violation of data protection laws and user privacy.
Codex TechShield Solution
Claim Scenario
During the installation of a large server array, a technician improperly secures equipment, causing a server rack to collapse. The incident resulted in the injury of a contractor and damages expensive hardware. The affected parties sought compensation for medical bills, damages, and lost wages due to alleged negligence in maintaining workplace safety.
Codex TechShield Solution
Claim Scenario
A technology firm supplied a batch of smart control units to a commercial building contractor. Shortly after installation, a defect in the hardware's power regulation system caused an electrical fault, resulting in overheating and a small fire that damaged part of the building’s electrical infrastructure. The building owner filed a claim for property damage and associated repair costs, alleging a product defect.
Codex TechShield Solution
Codex Insurance responded to the claim by covering the property damage and associated remediation expenses. This allowed the insured to meet its legal obligations without disruption to operations and supported a thorough investigation and corrective action process with the manufacturer.
Frequently Asked Questions
A combined multi-line product helps prevent gaps in coverage that can arise when multiple standalone policies are placed separately. By aligning key definitions, exclusions, and claims triggers across different coverage areas, it ensures all policies work together seamlessly—reducing the risk of disputes between insurers and avoiding situations where a claim falls between the cracks. This coordination not only simplifies policy management and may offer cost savings, but more importantly, it provides stronger assurance that coverage will respond when needed.
A civil liability-based clause offers broader protection than narrowly defined clauses that focus solely on specific acts, errors, omissions, wrongful acts, or breaches of professional duty. It covers a wider range of claims by addressing any civil wrongdoing, including negligence, breach of contract, statutory breaches, and other wrongful conduct recognized under civil law. This broader approach helps reduce the risk of coverage shortfalls by encompassing claims that might otherwise fall outside the scope of traditional fault-based wordings, ensuring more comprehensive protection for a variety of legal exposures related to the services and products provided.
Yes, coverage extends to computer systems operated by third parties when those systems are used on behalf of the insured under a formal written agreement. This means that even if the insured does not directly control the system, claims or incidents arising from its use or malfunction can still be covered, as long as there is a contractual relationship outlining the responsibilities and scope of use.
Yes, coverage applies if there is an actual and measurable interruption, suspension, or delay in a third-party computer system operated under a written contract for the benefit of the insured.
The policy covers contractors who are natural persons working under a written contract or the direct supervision of the insured. Contractors operating as incorporated entities are not covered in their own right.
However, the policy does provide cover for the vicarious liability of the insured arising from the conduct of all contractors, sub-contractors, consultants, or agents—whether incorporated or not—when acting on behalf of and at the direction of the insured.
Coverage extends to employees temporarily hired-out, contracted-out or supplied to third parties under arrangements made by the insured.
Each section of cover has its own separate limit. The limit available under one section is not reduced or affected by claims made or losses incurred under another section.
Activities in this sector rarely fit neatly into a single category—they often involve a combination of interrelated products and services delivered together. To reflect this unique operational complexity, these definitions have been broadly written, aiming to encompass the full range of services and products commonly found within the sector.
If, however, any specific activities fall outside the current scope, please contact our underwriting team to discuss potential adjustments.
This is available as an optional extension, subject to underwriting review and approval.
Media-related activities are included under the definition of ICT services, which specifically notes the reproduction, broadcast, publication, dissemination, transmission or release of any form of media, content or communication.
Worldwide coverage applies to all sections of cover other than where coverage specific regional exclusions apply.
Administrative proceedings are included within the broader definition of what constitutes as a claim —specifically where a proceeding is commenced by a notice of prosecution, investigative demand, or similar official communication.