MarkelTech

Cover and support that expands with your clients’ businesses

In the fast-paced technology industry, scaling up can happen quicker than expected. While scaling-up, your tech clients may be taking on new staff and navigating the associated legal considerations. It’s therefore crucial to have the right handbooks and policies in place to ensure compliance with UK employment law.

Along with looking for increases in cover limitations – they may also be discovering they need more support in other areas. MarkelTech’s insurance cover value-added services are there for them as they expand.

• Debt recovery – consistent cash flow is critical to a growing business, and it can be hugely damaging for a tech company when they’re not paid on time. Our debt recovery service helps kickstart the payment process for late and non-payments, supporting your clients all the way to court if needed.
• Business Hub – as your client’s tech business grows and takes on more staff, having the right processes and policies in place is essential for staying on the right side of employment law. Business Hub has all the guides and templates they need to stay compliant.
• Cyber solutions – as tech companies grow, they become more vulnerable to cyber breaches, but can lack the resources and knowledge to reduce the risks. Our cyber solution includes online training to keep staff up to speed, a 24/7 cyber response service, and up to £10,000 in emergency costs to mitigate risks should the worst happen.

Helping your clients go global

The growth phase is an exciting time for your tech clients. They’ve made it through the tough early start-up stages and they’re now enjoying the stability of being a mature presence in the industry. But this transition from local entrepreneur to global leader brings other challenges: competition is fierce, and with more to lose, the stakes are higher.

MarkelTech offers the flexible insurance cover and supporting services your tech clients need as they explore new opportunities and expand into new markets overseas.

• Worldwide cover – when your tech client expands internationally, their insurance needs will grow too. MarkelTech’s comprehensive insurance solutions offer worldwide coverage for UK and international entities*, so they can go global now, or in the future.
• R&D – innovation is part of continued growth, and R&D is one way for your tech clients to expand their offering. Our in-house team supports them in finding tax opportunities and making proposals to HMRC, and whether the innovation works or not, we can claim for tax back for them.
• PR crisis management – cyber breaches can have a huge impact on tech businesses, and when your client has worked hard to build their brand, the last thing they need is reputational damage. Our solution includes PR crisis management to help them weather the storm with their reputation intact.
• Business Hub – with strict rules around competition to contend with as a tech business grows, our Business Hub helps your clients with the information they need to stay compliant with UK laws and regulations on all aspects of running a successful business, such as price fixing and advertising.

Please always refer to your policy documents for full details of services, exclusions, terms and limits of your customised cover.
*International cover subject to the following conditions: Sanctioned territories are excluded in all policies. Non-admitted coverage provided. Please note there is a £10,000 minimum premium requirement for international exposure cover, in some cases there will also be minimum revenue. Cover availability will vary depending on the country.

Help them end on a high

They’ve worked hard to grow their tech business, but there may come a time when your clients start looking to a future for their business without them. Whatever their exit strategy, we’re here to support them right to final stages of their journey and beyond – whether that means a merger, an acquisition or a public listing.

• Conditions of sale – with lots of Is to dot and Ts to cross, we’re here to help with legal advice on conditions surrounding the sale – vital for your tech clients to make sure everything’s in check prior to a sale.
• Run-off cover – your tech client may have sold the business, but that doesn’t mean litigation can’t still be brought against the former management team for actions made prior to the sale. This policy has them covered, even after they’ve stepped down.
• Capital gains tax – when your client is enjoying the excitement of a payout, they don’t want pitfalls like capital gains tax to create obstacles. Our tax advice line is here to offer the guidance they need to navigate this with minimum stress.