Markel has launched a new FintechRisk+ insurance policy, offering financial services and technology liability, directors and officers liability, theft and cyber protection for UK and international fintech businesses with limits up to US$20m.
The policy offers enhanced business interruption coverage, as well as several new cyber extensions, including betterment, crypto jacking, reward coverage and telecom fraud.
UK policyholders taking out FintechRisk+ will also have unlimited access to Markel’s tax and legal advisory services, which include a helpline for business and employment matters, debt recovery support, contract reviews, as well as help with grants, funding and R&D tax relief consultancy. Insureds can access online cyber training and a cyber risk management toolkit via Markel’s eRisk Hub, so they can manage their risk exposures effectively.
Nick Rugg, head of fintech and investment management insurance at Markel, said: “Risks in the cyber and fintech markets have evolved rapidly since the inception of our original Fintech policy eight years ago. The pervasive issue of ransomware poses a significant problem for day-to-day cyber security where threat actors have…
