MasterPackage for Technology 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 it’s own merits, ensuring brokers have complete confidence that their client’s policy won’t let them down.
The technology package protects Irish and global insureds against:
One insurer, one policy
Clients can buy MasterPackage for technology 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 technology 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 technology 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 the following:
Award-winning claims service
Our claims teams across the globe aim to provide the highest level of expertise as well as consistency of approach throughout the life of a claim. We handle all claims in-house and clients have a single loss adjuster to liaise with throughout the process. Our claims philosophy is built upon providing vital, efficient and professional support for our insured customers at their time of need.
Many companies seeking growth are exposed to a multitude of new and complex risks. We understand how challenging this can be and to support these businesses we offer bespoke multinational programmes tailored to meet the need of clients around the globe and in challenging markets.
We offer policies on a mono-line or full-package basis, so you get the cover that’s right for you.
Specialist risk engineers
With a global network of 550 risk engineers, Chubb has been providing risk management, loss mitigation and prevention serviced to our clients around the word for many years. We have market leading risk engineers with expertise in contractual liability, cyber and business continuity as well as in property and casualty.
How is the evolving landscape altering exposures for Technology businesses?