Technology Insurance

Get the cover you need to protect your business in a fast changing world where new risks are constantly on the horizon.

Get a quote 01372 724747

For technology companies operating in an ever changing environment, and an ever-evolving threat landscape, packaged, standardised insurance is simply not enough. The range of risks facing every firm are simply too diverse, the risk profile of each firm too individual to rely on off-the-shelf solutions. Meanwhile, the intangible nature of technology company assets requires specialist cover.

In this context, it is essential to work with a specialist - a broker that will work hard to understand your risks, then build bespoke insurance protection that delivers the right level of cover at the right price.

Standard Covers

  • Commercial liability.

     

  • Professional liability.

     

  • Professional liability.

     

  • First and third part cyber and crime.

     

  • Management liability.

  • Property damage.

  • Combined liability.

  • Professional indemnity.

  • First and third party cyber and crime.

  • Business interruption.

  • Goods in transit.

  • Pollution.

Optional Covers

  • Motor fleet.

     

  • Management liability.

     

  • Business protection.

  • Employee benefits.

  • Overseas terrorism.

  • Media management crisis costs.

  • Professional indemnity (including full breach of contract and civil liability).

  • Employee fidelity (dishonesty of an employee).

  • Machinery breakdown.

  • Computer breakdown.

  • Terrorism (including WRAP).

  • Cancellation of an event.

Bespoke Insurance for Technology Companies

At Stonebridge we have the expertise, the knowledge and the insurance market relationships required to deliver tailored insurance cover for a wide range of technology firms. Whether yours is a software or hardware developer, an IT services company or telecommunications businesses, an electronic component maker or a software driven machinery specialist, we can find the right insurance solution for you. We’ll start with a bespoke review, to identify the risks you need to protect against.

Then we’ll draw on our wide market access and technical expertise to secure outstanding insurance solutions with enhanced features - like cover for breach of contract, subcontractor error, and unauthorised access. Similarly through our relationship with Marsh, a global leader in insurance broking and risk management, we can offer access to enhanced policy wordings that may not be available from our competitors.

Get a quote 01372 724747

Technology Insurance from Stonebridge: Who is it for?

As an established insurance specialist, we’ve worked with a wide range of businesses over the years. Today, we have the expertise and capacity to work with technology firms including software and hardware developers, IT services companies, telecommunications businesses, electronic component makers and software driven machinery specialists.

 

Related FAQs

See all FAQs

How much cover would be needed for keyman insurance?

This would depend on your specific business needs which we would discuss together. This could be a multiple of profits, a multiple of salary or turnover. Your accountant would be able to provide this information to you.

How do I know how much shareholder cover is needed?

We recommend you speak to your accountant who will help to establish the value of the business. The amount of cover should equal the market value of each owner’s share of the business.

What is keyman insurance?

It is a life insurance where critical illness cover can also be included to protect your business against the loss of profit should a key employee pass away or be diagnosed with a critical illness. You can also protect against the loss of a key employee to protect a debt, and it could also help towards the costs of employing and training new personnel.

Who could be classed as a key employee?

Key employees can be regarded as individuals whose knowledge, skills, experience, key relationships or leadership are very important to a business’ future financial success. These can be a senior manager, top sales person, technical specialist, business founder.

What is shareholder protection?

Shareholder protection is a life or life and critical illness policy that will pay out a lump sum that the remaining shareholders use to purchase the deceased shareholders shares from their estate.

Who should consider a relevant life policy?

Directors could take out the cover to provide a ‘death in service’ benefit, without having to take out a scheme to cover all employees. It helps to retain employees and ensure should the worst happen, their loved ones are financially cared for.

What is a relevant life policy?

It is a term assurance available for employers to provide employees with a ‘death in service’ benefit. It provides a lump sum payment on death and there can be many tax advantages to both the employer and employee for this type of policy.

What are the benefits of a relevant life policy?

No National Insurance contributions on premiums and corporate tax relief for the business itself. For their employee there will be no National Insurance contributions on premiums or benefits. The benefits are not taxed as a benefit in kind and importantly the benefits do not count towards annual or lifetime allowances tax benefits.

Who can take out a relevant life policy?

UK resident businesses. These businesses can be a limited companies, a limited liability partnership or sole trader. Company directors can take out cover with the limited company paying for this.

How much does keyman cover cost?

The cost would be dependent on the amount and term of the cover, age, smoking status. Please contact us for a personalised quote.

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