Experts in insurance for ICT companies
MasterPackage for ICT companies is a comprehensive first and third-party policy that caters for the unique insurance needs of companies in this evolving and exciting sector. Our global technology offering is custom-built for technology providers and our market-leading cover protects a business against the risks and threats of this fast-moving industry.
With over 70 years’ experience providing insurance solutions in this sector, Chubb’s dedicated technology team is one of the largest and most knowledgeable in the market. Our commitment to keeping up to date with the latest technical developments means that every risk is considered on its own merits, ensuring brokers have complete confidence that their client’s policy won’t let them down.
The technology package protects Swiss and global insureds against:
Consumer manufacturers pivoting to help in the fight against Covid-19 have been surprised by the liabilities they face in an unfamiliar sector. But even the specialist makers of ventilators, diagnostic tests and PPE have faced challenges, some of which will linger even after the pandemic is over
One insurer, one policy
MasterPackage for ICT companies either as stand-alone cover or a package involving any of the following coverages: Property, Liability or Professional Indemnity and Cyber. Buying a complete package means companies have the benefit of working with one insurer and have a single, easy-to navigate policy.
The main risk to ICT companies is contractual liability from a failure in the product or service they provide. They become exposed to tangible risks, i.e. those associated with a physical product, and/or intangible risks, i.e. those associated with advice or design on a third-party basis. In our experience, over 90% of ICT company claims relate to breach of contract and delay. So professional indemnity cover for both tangible and intangible risks is crucial.
Business interruption cover
Innovation through research and development is vital for the success of any technology company, but downtime in operations can result in a significant loss of income and expense. Our business interruption cover protects not only product and service revenue streams, additional increased costs of working but also research and development expenditure.
We can write policies for a broad range of companies offering a technology solution involving a product or services, for example: