Technological advancement within the sector has led to a drastic increase in competition in recent years. The trend is only going to continue as products and services continue to evolve, so it is highly recommended to concoct a plan, such as insurance, to adapt with the ever-changing technological world. Telecommunication companies are exposed to risks such as theft or vandalism of equipment, property damage, installation or specification mistakes, accidents to employees and maintenance of equipment. Such claims can lead to significant financial implications, from lawsuits to compensation to reputational damage. Further risks include malfunctioning equipment, improperly laid cables and cyber security threat.