Comprehensive risk management for IT & high-tech enterprisesTransfer of existential risks with custom-tailored insurance solutions

Technological enterprises strive to attain international status early on, whether through exports or local sales. This is often neglected in insurance programs. We provide support in setting up international insurance programs, aligning the coverage with the planned growth of the enterprise at an early stage.

Many technological enterprises are fitted out with classic business liability insurance, which does not cover financial loss (typically covering only consequential financial losses from personal injury or property damage). The risk of a major loss could jeopardize the existence of an enterprise. Our industry expertise allows us to solve this problem through adequate insurance coverage with our in-house broker conditions.

Ordinarily, several insurance lines are held in different policies with the same insurer. It is not uncommon for insurers to have accumulation clauses that have been overlooked. We coordinate the various coverage modules seamlessly to prevent double insurance and gaps in coverage due to details in the terms of the policy (e.g., accumulation clauses).

Technological enterprises are often insured like classic businesses and usually pay above-average premiums. For new clients, we can typically reduce the premium by 20% with no compromises in coverage. This applies to all lines.

IT liability (financial loss liability)

This coverage protects the enterprise’s assets against third-party claims. Such claims are asserted mainly by customers and competitors. Customers who incur damages, for example, due to non-fulfillment or inadequate fulfillment of a contract can assert claims against the enterprise. IT liability insurance covers the costs of defense against unwarranted claims (lawyers, courts, etc.) and pays compensation in the event of a warranted claim.

Cyber Insurance

Cyber insurance includes first-loss cyber damage, cyber liability insurance and cyber business interruption coverage. Comprehensive assistance services should not be neglected:

• Our IT security experts, crisis PR specialists and specialized data protection lawyers are ready to assist you in the event of a claim.
• They offer preventive support and function as outsourced cyber crisis departments.
• Technological enterprises are fundamentally at a high risk for cyber incidents, and the insurers’ requirements are accordingly stringent.

We provide support in this area based on many years of experience and our own cyber department.

D&O insurance

Directors and Officers (D&O) insurance offers liability coverage for top executives to protect them against claims that can result from decisions and actions related to their management activities. The increasing complexity of the legal environment means that enterprises are confronted with a higher probability of liability and legal disputes that are often triggered by “negative news”.

Enterprises usually take out a D&O policy so they have a solvent debtor – the insurer – in the event of a claim. Furthermore, without a good D&O insurance program, it is unlikely that enterprises will be able to recruit top managers, considering the potential risks. D&O insurance reimburses the costs of defense incurred by members of the board, managers, and employees in the event of claims by the enterprise itself (80% of all cases) or third parties due to alleged misconduct. D&O insurance also covers claims for damages, settlements, and judgments arising from such claims.