According to Insurance Business Mag, the new product showcases Sompo's commitment to growing its UK commercial lines business and provides creative solutions to assist middle market technology clients in successfully navigating complex risks

The new insurance plan is designed with technology and telecom service providers, as well as producers and assemblers of electronic products, in mind.

It includes cyber, professional indemnity (PI), property, and casualty coverages, with the option to offer cyber and excess PI separately.

The insurance guarantees minimum limitations and exclusions together with precise and succinct coverage.

Additionally, it has terminology for public and goods liability as well as intellectual property rights, breach of contract language, global coverage for both cyber and public liability, and automatic supplementary insured coverage for both.

Expert risk engineers and a committed claims team round out the underwriting team's wealth of multiline technology knowledge supporting the new technology package.

With more than twenty years of experience insuring technology risks, Toby Harris will oversee the company's technology business in the United Kingdom.

CEO of Sompo UK Bob Thaker said, "We are committed to growing our U.K. commercial lines business through innovation and developing solutions that help our middle market technology clients manage today's most complex risks." In reference to the launch of their new technology product.

Additionally, it solidifies Sompo's position as a major participant in the quickly developing and fast-paced technology industry. We are aware of the competitive nature of this industry and strive to offer our clients comprehensive coverage with the fewest restrictions feasible.