Sompo International Launches New Insurance Product for Technology Businesses in the UK
Sompo International has recently unveiled a cutting-edge insurance product specifically designed for technology businesses in the middle market segment in the United Kingdom. This innovative offering aims to provide comprehensive coverage tailored to the unique needs of each client, with a focus on flexibility and modularity.
Key Features of the Insurance Package
The new insurance product encompasses a range of coverages, including Property, Casualty, Professional Indemnity (PI), and Cyber insurance. Clients have the option to choose from these covers based on their individual requirements, with the flexibility to add excess PI and Cyber coverage separately as needed.
This product is targeted at technology and telecom service providers, as well as electronic product manufacturers and assemblers. It offers clear and concise coverage with minimal restrictions and exclusions, ensuring that clients receive comprehensive protection for their operations.
One of the standout features of this policy is the inclusion of PI wording that covers Intellectual Property Rights, breach of contract, and worldwide coverage on PI and Cyber. Additionally, clients benefit from Automatic Additional Insured coverage under PI and Public and Products Liability, enhancing the breadth of protection provided.
Insights from Bob Thaker, UK CEO of Sompo International
Bob Thaker, the CEO of Sompo International in the UK, expressed his enthusiasm for the launch of this new technology insurance product. He emphasized the company’s dedication to expanding its commercial lines business in the UK through innovation and tailored solutions that address the complex risks faced by middle market technology clients.
Thaker highlighted Sompo’s commitment to establishing itself as a key player in the dynamic and rapidly evolving technology sector. By offering extensive coverage with minimal limitations, the company aims to differentiate itself in a competitive market and provide unparalleled support to its clients.
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In developing this state-of-the-art insurance product, Sompo International has demonstrated its expertise in meeting the evolving needs of technology businesses in the UK. This commitment to innovation and client-focused solutions is evident in the comprehensive coverage and flexible options offered within the new insurance package.
To learn more about Sompo International and its range of insurance products and services, visit their official website here. For additional insights on the technology sector in the UK, explore industry resources such as TechUK and Computing.
Overall, Sompo International’s launch of this new insurance product underscores its commitment to innovation and client-centric solutions, positioning the company as a prominent player in the competitive technology insurance market.