Fintech insurance for fintech companies

Why do you need specialist Fintech insurance?

We know you’re worried about revenue, investment, talent, regulation, and future expansion. Insurance shouldn’t be one of the things you should worry about. Let us help protect you from:

• Professional negligence
  Mistakes happen, we’re all human after all. Unfortunately mistakes in Fintech often come with large claims which can be expensive to defend or settle. Could your businesses reputation cover the cost of putting a mistake right?
• Cyber-crime
  As a business providing products and services, which inherently create, amplify, and attract cyber risks, you’re a high-risk target for cyber-criminals. Can you afford to take the chance of a data breach?
• Regulation and compliance
  Operating between finance and technology brings a lot of regulation. From General Data Protection Regulation (GDPR) to payment services directive (PSD2), there’s a lot for Fintech firms to contend with. Despite your best efforts, one or two issues can still take you by surprise. Are you prepared for the unexpected?

How our technology insurance team can help

Insurance shouldn’t be painful. After all, it’s there to protect you. That’s why our personable experts will provide advice and support in a simple, solution-focused way that works for you.

No matter how straightforward or complex your risks are, whether you’re looking for a new policy or to amend existing cover, we can help and we’ll take care of you.

What insurance does a Fintech business need?

Not sure what Fintech insurance you need? We’ll discuss your requirements before presenting an insurance solution that meets your complexities, but you may wish to consider:

Professional indemnity - covers the legal and compensation costs you may have to pay if a client makes a claim against you.

Public liability – covers you for the cost of a claim arising from a suffered injury or property damage caused by you or your employees.

Employers' liability (EL)– compulsory by law for most businesses, EL provides cover if a worker suffers an injury or an illness they believe is your fault.

Directors and officers – also known as management liability portfolio insurance (MLP), provides any director, partner or employee acting in a managerial capacity on behalf of the company cover for defence costs incurred during a claim and awards made against you personally.

Cyber liability insurance – protects your business from cyber-criminal activity such as hacking, and the legal and reputational fallout caused from a data breach.

Insurance solutions for people and businesses like you

Operating in a global, borderless and fast-paced industry carries a variety of unique risks. Data breaches, contract disputes, and infringement of intellectual property remain a constant threat. Meanwhile equipment/software failures, funding/acquisition/exit liabilities, and personal claims made against board members are an ever-present concern. This requires the right expertise in navigating such risk exposures and arranging appropriate insurance protection.

At Marsh Commercial, we support various technology companies including; communications and media specialists, data centres and science parks, fintechs, hardware and electronic manufacturers, IT consultants and contractors, life science providers, medical technology designers, software, gaming and app developers, and much more. Working closely with our insurer partners to arrange insurance policies that are truly fit for purpose.