‘Unmanned and electric aircraft, autonomous vehicles, automated factories, robotics, autonomous rail and many other advanced technologies have very specific, complex and technical cyber insurance requirements,’ says chairman
Advanced Technology Assurance (ATA) has launched a cyber insurance proposition designed for emerging sectors such as robotics, autonomous vehicles and electric aviation.
The London-based MGA, which is backed by Tokio Marine Kiln (TMK), said its cover could be purchased as a standalone product or added to its wider advanced technology suite.
ATA chairman Michael Coles said: “Cyber is now a commoditised, generic insurance product bought by businesses from Main Street to Wall Street and what makes ATA’s cyber insurance different is that our coverage is designed specifically for advanced technologies.”
He added that ATA aimed to become “insurance brokers’ first call” for risks linked to sectors such as unmanned aircraft, autonomous rail and automated manufacturing.
Backed by TMK
Alistair Blundy, lead underwriter at ATA, said the product was available worldwide, subject to Lloyd’s licensing. He added that the financial security of TMK backed the MGA’s ability to underwrite these risks.
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Alongside its cyber launch, ATA also unveiled an intellectual property (IP) cover targeted at firms ranging from SMEs to large commercial businesses. The product protects against disputes relating to patents, trade marks, trade secrets, designs, domain names and copyright.
Ellie Webb, head of delegated cyber and IP at TMK, said: “As demand for specialist cyber and intellectual property insurance expertise continues to grow, TMK and ATA are on the front lines of providing the fit-for-purpose cyber and IP coverage required by the world’s most innovative businesses shaping our future.”
ATA, incorporated in England and Wales in 2023, underwrites on behalf of Convex Group entities and is an appointed representative of International Risk Solutions, which is regulated by the FCA.
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