Zurich Insurance Company (Canadian Branch) has launched its Middle Market Technology Vertical to address the insurance needs of technology companies in the middle market segment. The initiative is intended to provide tailored risk management solutions for businesses in this sector.
It will offer coverage options that include technology errors and omissions, cyber insurance and property and casualty insurance. The company aims to support technology firms with scalable insurance solutions as they expand.
“Growing companies need scalable insurance that evolves with their business risks,” said Donna Mulligan, head of middle market at Zurich Canada. “Our Middle Market Technology Vertical demonstrates our commitment to understanding our customers’ needs and delivering innovative, customer-centric solutions.”
The Technology Vertical is designed for software developers, electronic manufacturers, IT consultants and SaaS companies. It includes an end-to-end multiline insurance product, an enhanced property and casualty package with expanded Zurich Z-Guard Property and General Liability coverage, and additional coverages such as umbrella insurance, directors and officers liability, fiduciary liability, employment practices liability, crime and inland marine insurance.
The offering also includes Zurich Pro Plus E&O, which provides Technology Professional Liability coverage and can include cyber and media protection. A dedicated multiline technology underwriter and risk services team will serve as a single point of contact for policyholders. Additional services include cyber and property and casualty risk assessments, risk insights tools, and accredited seminars.
“Our Technology Vertical offers a seamless experience for our customers,” Mulligan added. “We aim to simplify the insurance-buying process and enhance contract certainty.”
In 2023, Zurich North America launched a cyber insurance offering specifically tailored for middle market businesses. The product, named Zurich Cyber Insurance Policy – Concierge Suite, incorporates loss-prevention and resilience services such as a breach coach and a 24/7 cybersecurity hotline.
“Many middle market companies tell us they want to improve their cyber posture but lack the staff, skill sets or access to cost-effective tools,” said Alex Wells, head of middle market at Zurich North America, during the product launch. “In the unfortunate event of an attack, customers don’t have to scramble to find reliable incident response services or worry about being gouged on price. Incident response and recovery and other essential services are built into this holistic solution.”
