Sompo International has announced the launch of a new insurance product for technology business, aimed at middle market clients in the United Kingdom.
Sompo InternationalCreated with modular wording and flexible approach, the package includes coverages comprising Property, Casualty, Professional Indemnity (PI) and Cyber.
All covers are optional and customised to each client’s unique needs, with the possibility of excess PI and Cyber separately to be provided separately.
The product is aimed at technology and telecoms service providers, plus electronic product manufacturers and assemblers. It provides clear and concise cover with limited restrictions and exclusions, Sompo noted.
The policy also offers PI wording inclusive of Intellectual Property Rights; breach of contract wording; worldwide cover on PI and Cyber; as well as Automatic Additional Insured coverage under PI and Public and Products Liability.
Bob Thaker, UK CEO, Sompo commented: “The launch of our new technology product demonstrates our commitment to growing our UK commercial lines business through innovation and developing solutions that enable our middle market technology clients to manage today’s most complex risks.
“It also further establishes Sompo as a key player in the fast-paced and rapidly evolving technology sector. We recognise this is a competitive market and are looking to provide extensive coverage for our clients, with as few limitations as possible.”