Chubb Expands BOP Coverage to Small Technology Firms

November 3, 2016

Chubb has expanded its business owner’s policy, Chubb BOP, to the technology industry with specialized insurance features and benefits for risks faced by small businesses in the technology segment.

Chubb BOP for the technology industry includes more than 80 property and liability features. It also provides an automatic blanket limit of insurance that ties together 13 property coverages. Chubb BOP for the technology industry also includes the following for small technology companies:

  • Automatic blanket limit that includes electronic data and research, as well as development property
  • Business personal property that includes computer hardware
  • Tailored property insurance for mobile communications, electronic data recovery costs (computer virus), installation, and personal property off-premises, including transit and utility services direct damage
  • Crime insurance for computer fraud and funds transfer, identity theft expense, money and securities, as well as employee dishonesty
  • Business income insurance that includes actual loss sustained, business income from dependent property worldwide, alternative power generation, business income extension for websites, and utility services
  • Valuation that includes green standards, removal of insurance to value provision, replacement cost, and selling price on finished stock

Chubb BOP for technology companies includes broad protection for property and liability exposures, as well as umbrella, workers’ compensation, commercial auto, overseas travel, technology errors & omissions, and cyber liability insurance. Chubb BOP is now available to the following technology classes:

  • Computer programing and software
  • Computer-related services
  • Technology manufacturers and wholesalers
  • Telecommunication services
  • Broadcasters
  • Technology research and development start-ups

The Fast Track online underwriting platform will let agents quote and issue a Chubb BOP technology segment policy in minutes.

Chubb BOP for the technology segment is part of a growing suite of insurance products for small businesses being released by Chubb. Available in over 43 states, with plans to be in all 48 contiguous states by year-end, Chubb BOP is sold through an exclusive network of independent insurance agents and brokers. Chubb BOP is now offered to more than 530 classes of business including clubs and associations, cultural institutions, financial services, healthcare offices, real estate, retail stores, service businesses, technology firms, and wholesalers.

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