While the technology, media and telecommunications sector faces challenges around constant consolidation, cyber security, intellectual property protection and regulatory changes, it is thriving as it fuels a worldwide transformation in every kind of business.
Advances in speech recognition, natural language processing, virtual reality and touch payment technology – along with the expanding ‘internet of things’ and the growth of cloud computing – are revolutionising the way we live, work, communicate and entertain ourselves.
All of this means that the technology, media and telecommunications sector is perhaps the most innovative, disruptive and fastest changing sector today – and for pioneering companies within it, this is an exceptional time of opportunity.
We have supported the technology, media and telecommunications sector for more than 30 years. We work with many leading technology and media companies around the world and have an in-depth understanding of the sector and its inherent challenges.
We offer a range of relevant products for this sector, including Professional Indemnity, Cyber, General Liability and Employers’ Liability. Our highly experienced underwriters have the expertise and flexibility to structure cover to suit your particular needs and our wordings have been honed over many years to offer some of the best cover available today.
We have a dedicated claims handling team for this sector, so you will always deal with someone who understands your business and its challenges. Our claims handlers come from both a legal and an insurance background and have extensive experience of technology- and media-related claims.
We also have an in-house risk management team that can help you to assess your risks – using our QRisk system – benchmark your practices against your competitors, and improve your processes and procedures, ultimately helping you to minimise your risks and reduce claims costs.
Finally, under our unique QBE Premiums4Good initiative, we offer the opportunity for 25 per cent of your premiums to be invested in projects that benefit communities or the environment. We provide annual updates about the projects we have supported, which you are welcome to use in your own corporate social responsibility reporting.
We provide broad Professional Indemnity cover for the evolving risks faced by technology, media and telecommunications companies. We offer limits of up to £25m and our policies address major issues such as breach of contract, liquidated damages, and design defects in hardware and software.
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The increasing reliance on technology today means that protection against cyber breaches and their consequences is crucial for all organisations. Our Cyber policy protects against the range of risks associated with digital technology and provides critical support in the event of a cyber attack.
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We cover organisations against Public, Product and Pollution Liability claims, with a range of extensions available, including Financial Loss, Excess Auto Liability, and Incidental Errors and Omissions. We offer exceptionally large capacity of up to £100m.
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We cover technology, media and telecommunications companies in the UK and Ireland for their duties under the Employers’ Liability (Compulsory Insurance) Act 1969 to insure against liability for bodily injury or disease sustained by employees.
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Directors’ and Officers’ Liability insurance is becoming increasingly important for attracting and retaining key people in this sector. It covers individuals for financial losses arising from actual or alleged wrongful acts, including defence costs and expenses, investigation costs and extradition costs.
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Fraudsters are constantly developing new methods to target companies, such as ‘social engineering’, where they pretend to be clients or senior members of staff. We provide robust Commercial Crime cover and keep you abreast of the latest scams, as well as working with you to reduce your vulnerability to such risks.
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We can create compliant multinational programmes for a wide range of products – including General Liability, Property, Professional Indemnity and Directors’ and Officers’ Liability – in more than 150 countries.
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