PriyaPatel
TLDR:
- Sompo has launched a new technology insurance product for middle market clients in the UK.
- The product offers optional and customized coverage for technology and telecoms services providers, electronic product manufacturers, and assemblers.
Sompo has announced the launch of a new technology insurance product aimed at middle market clients in the UK. The product offers optional and customized coverage for technology and telecoms services providers, electronic product manufacturers, and assemblers. The insurance package includes coverages in property, casualty, professional indemnity (PI), and cyber, with the option to provide excess PI and cyber separately. The policy offers clear and concise coverage with limited restrictions and exclusions, including PI wording that covers intellectual property rights, breach of contract, worldwide cover on PI and cyber, and automatic additional insured coverage under PI and public and products liability.
The underwriting team backing the new technology package has experience in multiline technology along with specialist risk engineers and a dedicated claims team. The firm’s technology practice in the UK is led by Toby Harris, who has over two decades of experience in underwriting technology risks. Sompo is a global provider of commercial and consumer property, casualty, and specialty insurance and reinsurance.
