Insurance for Technology companies

What is technology insurance?

Technology insurance products and services help to protect hardware, software and service providers operating at the cutting edge of the digital frontier. Technology insurance is designed to respond to the particular risk management needs of tech companies, helping to protect their facilities, their employees and their business from disruption.

In addition, technology companies share elevated cyber risks due to the nature of their businesses. Cyber insurance can help protect both the end product and the integrity and trustworthiness of the product being integrated by technology users. Technology companies need help from a tech insurance company that understands your business and offers the solutions and services to help manage your risks.

Why Zurich?

Zurich delivers high-tech insurance solutions with the experience, tools and resources needed to help hardware, software and service providers better understand risks and develop effective, forward-looking strategies to mitigate them. We provide insurance for technology companies that addresses the risks they face today and anticipates the risks they may face tomorrow.

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Property coverages
Zurich’s broad all-risk Property form addresses the exposures that technology companies face. Highlights include:

• Real property does not exclude insureds’ interest in underground pipes, flues, drains and other permanent structures.
• Personal property includes personal property of others and computer systems.
• Equipment Breakdown coverage is included with no sublimit.
• Ordinance or Law applies to all covered property and time element loss, not just buildings.
• Better Green^TM – coverage to rebuild to same or higher green standard is automatically included via sublimit after a covered loss.
• Loss of Utilities includes overhead lines.
• BI additional coverages Ingress/Egress and/or Civil Authority can include flood and earthquake for covered locations.
• Natural catastrophe limits and deductibles are scheduled on declaration page and not subject to revision at time of loss.

Tech Errors and Omissions and Cyber
Technology Errors & Omissions coverage, blended with Cyber first and third party insurance is crucial in today’s digitally focused business environment. ProPlus^® is our Tech E&O and Cyber product offered by our Technology Industry practice when paired with other coverages including Property, General Liability, Workers' Compensation and Umbrella liability. It may also be purchased separately.

Umbrella
Additional limits protecting against catastrophic claims beyond primary coverage.

Workers' Compensation
Flexible options include:

• Level and variable dividend options
• Loss-sensitive programs
• Pay-as-you-go payroll options

General Liability
General Liability Industry specific endorsements providing 25 enhancements to coverage such as:

• Broad Form Named Insured and Newly Acquired Entities for any organizations.
• Automatic Additional Insureds.
• Automatic Waiver of Subrogation and Primary Non-Contributory conditions.
• Bodily Injury includes mental anguish, mental injury, shock, fright or death.
• Incidental medical services, Good Samaritan Acts and Co-Employee extensions.

All perils included for property damage to Premises Rented to You Broadened contractual liability.

International

• One of the industry’s largest networks, providing coverage in 210 countries and territories
• Regionally based International Underwriting teams with expertise in navigating foreign legal, licensing and tax requirements
• A dedicated, 75-person servicing team for international programs
• Uniform claims-handling globally, with a U.S.-based International Claims Coordinator acting as a single point of contact

Claims services

Zurich Claims specialists are strategically deployed across the U.S. and around the globe to help customers respond to and mitigate loss events, and to gain insights into ways to become more resilient against future losses, with:

• An award-winning, Zurich-owned Customer Care Center available 24/7 ¹
• Concierge Customer Service Executive, acting as a dedicated resource for all claims and related inquires
• Access to digital programs that provide a transparent claims process
• Knowledgeable and reliable Claims staff with industry-specific expertise
• When utilized, integrated Medical Management program yields a 63% reduction in medical bills costs, on average²
• Risk Engineering Claims Analysis tool
• Disruptive event response and workplace violence training

1.   Top Mid-size Contact Center as recognized by Contact Center World in 2021
2.   Zurich North America Claims Finance 2021