According to CAN Hardy, the launch builds on its existing Technology Package product, providing an enhanced cyber offering to the UK general insurance market. The flexible package solution covers technology businesses of all sizes – from small tech start-ups to large multinational corporations.
Technology Package+ has a broad risk appetite and up to £10 million in capacity for professional liability cover. It covers the following sub-sets: software, hardware, services, telecommunications, and micro segments (including fintech, defence, med tech, and insurtech businesses).
The policy includes the following standard covers: professional indemnity, property, commercial liability, first-party cyber and third-party cyber.
“With more than one million technology professionals in the UK alone, CNA Hardy has created an insurance policy that is responsive, relevant and up-to-date,” said Mark Armstrong, UK technology segment leader at CNA Hardy. “We have to provide clients with risk transfer mechanisms and peace of mind – our enhanced Technology Package+ solution offers a clearly-worded, unambiguous policy with a bigger focus on cyber coverage, which will allow our technology customers to continue to do what they do best – innovate and grow.”
“We are an underwriting company and believe that our products should provide up-to-date and responsive coverage,” Armstrong said. “We should not be hiding behind exclusionary language, but instead be offering a product that gives our clients everything they need in one place. That’s what insurance is all about.”
Source: Insurance Business UK