As society's reliance on technology increases, so will the risk of liability facing technology companies in their product and service delivery. Operating in an evolving and complex industry like this also means that only the most suitable cover designed by specialist underwriters will do. This insurance allows us to deliver the expertise that best covers technology businesses.
Chubb’s new PremierTech Policy Wording replaces the Chubb Premier Information and Network Technology Liability Insurance Policy by combining Chubb’s market leading IT Liability Package and Cyber Insurance capabilities into a new, single product. PremierTech features:
Section 1: Technology Liability
Technology Professional Liability (Professional Indemnity) protection for financial loss arising from a failure to perform, including cover for performance based contractual liability and liability assumed in contract.
Privacy and Network Security Liability protection for failure to secure computer systems or preserve the confidentiality of personal or corporate data, including resultant Regulatory Fines.
Media Liability and Infringement of Intellectual Property protection for trademark, copyright and other intellectual property infringements.
Extensions include protection for Amounts Paid, Liquidated Damages, and Contractually Assumed Patent Liability, among others.
Section 2: Cyber Enterprise Risk Management
‘First Party’ cyber covers to assist organisations in responding to and remediating cyber incidents. Covers include Incident Response Expenses, Data and System Recovery, Business Interruption, Cyber Extortion.
Access to Chubb’s Cyber Incident Response Team in the event of a cyber incident, including via the Cyber Alert app.
Extensions include Emergency Incident Response, Cyber Crime, Betterment Costs, Telecommunications Fraud and Reward Expenses.
Section 3: Public & Product Liability
Public and Product Liability (general liability) coverage for Property Damage, Personal Injury and Products Defect (Product Liability).
Extensions include Product Recall, Cyber Liability, Care, Custody and Control, and Crisis Response Expenses, among others.
How Chubb can provide insurance coverage & services to respond to various incidents faced by technology companies