Brokers have warned technology suppliers that their general liability policies may be inadequate and could expose them to large claims.
The warning came following a US case in which AOL claimed on its general liability policy after software it had installed caused companies' systems to crash and lose stored data.
AOL made a claim against its insurers, St Paul Mercury, but the courts rejected the claim because the installation had not caused damage to "tangible property".
The court held that software did not constitute tangible property.
AOL later reached a settlement in the region of $15.5m (£8.5m).
Law firm Watson Burton said insureds should check with their brokers that their general liability policies provide the cover they require.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
