CNA Hardy Launches Package+ Cover For Tech Companies

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CNA Hardy, a leading specialist commercial insurance provider for clients within the Lloyd’s and company markets, announces the latest addition to its specialist Technology product suite. Technology Package+ offers a completely updated, comprehensive suite of coverages including advanced cyber cover tailored to the needs of technology businesses.

Building on CNA Hardy’s existing Technology Package product, this policy has a more enhanced cyber offering compared to what currently exists in the UK general insurance market. The flexible package solution covers technology businesses of all sizes from small tech start-ups to large multinational corporations.

Launched on January 1, 2023, Technology Package+ offers a broad risk appetite and capacity for up to £10 million for Professional Liability (PI) cover, and covers the following sub-sets: software, hardware, services, tele communications, and micro segments (including Fintech, Defence, Med Tech, and InsurTech businesses).

“With more than one million technology professionals in the UK alone, CNA Hardy has created an insurance policy that is responsive, relevant and up-to-date,” said Mark Armstrong, UK Technology Segment Leader at CNA Hardy. “We have to provide clients with risk transfer mechanisms and peace of mind – our enhanced Technology Package+ solution offers a clearly-worded, unambiguous policy with a bigger focus on cyber coverage, which will allow our technology customers to continue to do what they do best – innovate and grow.”

Many policies in the market include third party cyber liability within its PI cover. CNA Hardy now offers comprehensive cyber coverage as a stand-alone feature. The enhanced Technology Package+ includes all the relevant cyber covers, as well as enhancements on the original product in one package, offering a full suite of coverage for technology companies.

The policy offers the following cover as standard: PI, Property, Commercial Liability, First Party Cyber and Third Party Cyber.

Mr. Armstrong commented: “We are an underwriting company and believe that our products should provide up-to-date and responsive coverage. We should not be hiding behind exclusionary language, but instead be offering a product that gives our clients everything they need in one place. That’s what insurance is all about.”

About alastair walker 10885 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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