The new version offers improved professional indemnity, cyber cover and added value services along with a new multinational policy wording, in addition to local wording
Chubb launches new version of insurance policy for IT companies. (Credit: Pixabay/Pete Linforth)
Chubb has rolled out an enhanced version of MasterPackage for Technology Companies product in the UK.
As a comprehensive first and third-party policy, the new offering has been designed for companies that develop or provide technology products, solutions and services.
According to Chubb, its MasterPackage policy has been enhanced to keep pace with the changing needs and increased risks faced by tech companies.
The latest version offers improved professional indemnity, cyber cover and added value services along with a new multinational policy wording, in addition to local wording.
It also includes options for cancellation of events, marine cargo, global terrorism coverage, legal expenses, employee crime, kidnap and extortion expenses.
Chubb UK & Ireland, P&C chief underwriting officer Mark Roberts said: “Chubb has a long-standing and successful track record of working with customers within the technology industry and it has developed a deep and comprehensive understanding of the many risks they face.
“Chubb’s new MasterPackage solution for Technology Companies has been designed to make life easier for our customers and to give them peace of mind. Our bespoke offering combined with Chubb’s multinational service proposition creates a solution that meets the many and varied needs of our Technology clients.”
The MasterPackage policy is supported by a wider service proposition backed by the company’s expertise across specialist technology underwriters, claims handlers and risk engineers along with a suite of cyber support services.
The MasterPackage policy is available for SMEs as well as medium and larger enterprises
The enhanced policy is primarily focused on small and medium enterprises (SMEs) and middle-market businesses. However, it also extends to large corporations.
The company claims that its MasterPackage for Technology Companies has been designed for the quickly evolving technology sector and the proposition offers coverage for property, business interruption, employer’s liability, public liability, product liability, professional indemnity and cyber covers under a single policy.
The policy can be purchased as a complete package or it can be customised to the client’s specific business and insurance requirements.