Toronto, ON (Apr. 4, 2024) – Trinity Underwriting is thrilled to announce the launch of its latest specialty insurance product, FinTech Insurance, specifically designed to address the unique challenges faced by the financial technology sector.
Canadian customers and businesses are showing an increased interest and confidence in the fintech space, and we expect an increase in start-ups as this niche continues to grow along with small and medium-sized enterprises.
Fintech companies navigate complex landscapes that blend the intricacies of the financial services industry with the rapid pace of technological innovation. This unique positioning subjects them to a variety of challenges that traditional insurance policies may not fully address, leading to potential gaps in coverage. While current insurance policies address several critical risks faced by fintech companies, the unique blend of technology and finance presents challenges that require more tailored insurance solutions. Standard Tech E&O policies can provide coverage for the technology exposure but would typically exclude coverage for the financial services exposure. Trinity’s new comprehensive product offers E&O, D&O, Cyber, and Crime coverage, four essential lines to protect fintech companies against the ever-changing risks associated with technology, regulation, and operational challenges. Like Trinity’s overall product offerings, the new Fintech product breaks down the silos of traditional insurers by offering integrated coverage across multiple lines, with options to package commercial general liability and property coverage.
Key Features:
- Professional Liability including Multimedia and Advertising Coverage and Employee dishonesty
- Cyber Coverage including a breach coach hotline, business interruption in the event of a cyber breach of insured’s own or third-party system
- Crime coverage including cyber crime
- Management liability for individual directors and officers and company indemnification
- Worldwide Coverage
- Separate Towers, up to $5M limits
Why Choose Trinity’s Fintech Insurance?
- Bundled Protection: We can package commercial general liability and property insurance to our fintech cover, to create a bundled package policy
- Flexibility: The policy is offered on a modular basis and can be tailored to fit the specific needs each individual risk.
- Quick Turnaround Time: Experience efficient processing with our streamlined application. If we need more information to formalize a quote, we will touch base to keep the conversation going.
- Competitive Premiums: Enjoy competitive and transparent pricing options designed to fit a start-up’s budget.
For more information, please contact [email protected] or [email protected].
About Trinity Underwriting
Trinity is a true underwriting manager with in-house authority and underwriting expertise. We don’t wholesale. If you get a quote from us, it’s from us, not some other overseas company. That way we can quote most business the same day, keep the transaction costs down and we can pass those savings on to your clients. Many of your Insureds’ assets have historically been tangible (inventory, land, cars), but today have become intangible (intellectual property, brand recognition, data). Trinity focuses on insuring those intangible assets through a variety of products (E&O, Cyber, D&O, Legal Expense). In doing so, we help your clients focus on the important tasks, like building their businesses. We’re backed by two of the three largest A rated reinsurers in the country, allowing us access to their resources, knowledge, and expertise. We’re Canadian, and claims are handled domestically by our in-house TPA. We are not owned by a retail broker. When you use us, you’re not putting money in your competitor’s pockets. For more information, visit www.trinityunderwriting.ca.
SOURCE: Trinity Underwriting
Tags: FinTech, launch, Trinity Underwriting
