The Canadian market for technology insurance is showing clear signs of softening. Demand for coverage continues to grow as more businesses develop and distribute technology products and services, but competition among insurers has kept pricing low.

According to Marianne McKinnon (pictured), underwriting manager, technology, cyber and errors & omissions at Victor Canada, this imbalance is apparent, but it will not last forever.

Technology insurance is distinct from general cyber coverage purchased by various professionals in the services industry, she told Insurance Business . The policies designed for technology firms combine liability protection with cyber coverage, reflecting the risks faced by companies that build, sell, and service digital products.

“Technology liability is a bit

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