Insurance for IoT businesses from Superscript
Specialists in insurance for emerging risks, we offer a made-to-measure approach for technology businesses.
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We understand you
As emerging risks specialists, our policies are built to ensure that your unique set of risks is understood and covered.
We always find a way
We’re relentless. We challenge the status quo to create the right solutions, with the flexibility to continually optimise.
We stay ahead of risk
We have the courage, expertise and determination needed to put you ahead of an ever-changing environment.
Cover across all IoT verticals
Smart home technologies and wearable electronics.
Industrial IoT and logistics
Machine diagnosis, predictive analytics and maintenance, fleet tracking, and more.
Smart cities and transport
Smart cities, waste management, smart traffic and parking.
Healthcare and life sciences
Wearable devices, diagnostic devices, elderly patient monitors and alarms.
What insurance do IoT businesses need?
Following the rapid increase in adoption of IoT technology and diverse IoT applications, there's a demand for bespoke innovative protection to match. Below, we've summarised some of the most common covers required.
Professional indemnity insurance
It is vital that IoT products and industries run as they should. Superscript provides specialist cover for all of the areas listed above and can cover civil liability arising out of your professional and technology services, while also protecting you against a range of other risks faced by businesses at the cutting edge of technology.
Preserving IoT security is one of the greatest challenges faced by businesses in the sector. Due to the sheer amount of data being shared between devices and the multitude of attack vectors available it is integral to supplement your cyber security regime with a specialist cyber product to protect yourself as much as possible. At Superscript, we fully understand the importance of safeguarding personal information / corporate data and ensuring that your systems are up and running. Our specialist cyber policy covers both first party and third party claims ensuring that you can stay protected from whatever gets thrown at you.
If you manufacture or are responsible for a product, then you may be held responsible for the recall of any defective or otherwise malfunctioning products. These costs can quickly add up and hurt a company’s balance sheet that isn’t properly protected. With product recall insurance you can transfer the risk of a product recall off your balance sheet through our insurance policy; letting you focus on growing your business.
If you manufacture or are responsible for a product, then you may be held responsible for the recall of any defective or otherwise malfunctioning products. These costs can quickly add up and hurt a company’s balance sheet that isn’t properly insured. With product recall insurance you can transfer the risk of a product recall off your balance sheet through our insurance policy; letting you focus on growing your business.
Intellectual property (IP) infringement
With the IoT market expected to reach $520 billion by 2021 it is very important to safeguard your yourself against any claims arising from IP infringement. Lawsuits can become very costly and derail businesses that are at an early stage, while stealing the patents that made your technology stand out in the first place. Our specialist cover protects you in a wide range of IP related circumstances; seeking legal advice, enforcement and defence costs, settling damages following legal action and legal costs validity.
Directors and officers insurance
As a founder, it is very important to protect yourself from risk in an increasingly litigious society as you could be held personally liable for the operation of the company. Our directors and officers cover protects you against claims from shareholders and investors in the event of an allegation of wrongdoing. In an ever changing and competitive environment it isn’t worth the risk of going unprotected.
From the very beginning of the process, Superscript were knowledgeable and professional, and managed to come up with the right policy for us under very tight time frames. We will recommend them to other startups and scaleups.
Superscript were great in helping us get coverage for our AI skin cancer service. We had spoken to a number of brokers as we tried to get insurance for our AI but ultimately, none were able to get underwriters around the table to understand the business and coverage needed. Superscript did that and then helped create a new policy type to get us the coverage we needed. Recommend.
We had a breach and the insurance and legal support we got was invaluable. Superscript walked us through the whole thing including media and customer relations.
It was very quick and easy to claim. Our account manager replied within minutes, confirmed the details and we had the money in our account within 48 hours.
- 17 Mar 20212 minute read
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