LONDON, Aug. 11, 2020 /PRNewswire/ -- Chubb today announced the launch of its enhanced MasterPackage for Technology Companies product in the UK. This is a comprehensive first and third-party policy designed for companies which develop or provide technology products, solutions or services.
The product is complimented by a wider service proposition backed by Chubb's multinational expertise which also includes specialist Technology underwriters, claims handlers and risk engineers, and a suite of cyber support services.
Chubb's MasterPackage for Technology Companies proposition is regularly enhanced to keep pace with the needs and changing risks faced by Technology clients. This latest upgrade now includes improved Professional Indemnity, cyber cover and added value services plus a new multinational policy wording, in addition to local wording. Other changes include options for: Cancellation of Event; Marine Cargo; Global Terrorism Coverage; Legal Expenses; Employee Crime; Kidnap and Extortion Expenses.
The solution is primarily targeted at SME and Middle Market businesses but also extends to Major Accounts customers. Each client can benefit from working with a single insurer and underwriter offering them a straightforward product with clear policy language.
Chubb's MasterPackage for Technology Companies proposition includes cover for property, business interruption, employer's liability, public liability, product liability, professional indemnity and cyber covers in a single policy wording designed for the fast-paced evolving Technology sector. It also enables seamless claims handling because all product lines can be underwritten by the same carrier.
In addition, it can be purchased as a complete package or as a customised solution to respond to the client's specific business and insurance-buying requirements.
Mark Roberts, P&C Chief Underwriting Officer, UK & Ireland, Chubb said:
"Chubb has a long-standing and successful track-record of working with customers within the technology industry and it has developed a deep and comprehensive understanding of the many risks they face. Chubb's new MasterPackage solution for Technology Companies has been designed to make life easier for our customers and to give them peace of mind. Our bespoke offering combined with Chubb's multinational service proposition, creates a solution that meets the many and varied needs of our Technology clients."
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs approximately 33,000 people worldwide. Additional information can be found at: www.chubb.com