Music technology businesses don’t fit neatly into traditional industry categories.
You might be a software developer, hardware manufacturer, SaaS platform, technology integrator or an emerging business doing something entirely new.
What you have in common is that technology sits at the heart of what you do – and that can create some very specific insurance considerations.
That’s why Specialist Risk Group has joined Music Technology UK as a recommended supplier.
Insurance that understands technology
For a growing technology business, insurance can quickly become more complicated.
Cyber attacks and data breaches, software or system failures, intellectual property disputes, contractual liabilities and business interruption can all have significant consequences.
You may also have more traditional exposures around premises, equipment, stock, employees and liability.
The challenge is making sure those risks are considered together, rather than treating insurance as a collection of separate boxes to tick.
At Specialist Risk Group, we work with technology businesses to understand how they operate, where their key exposures sit and how those risks can be considered as part of an appropriate insurance programme.
As your business grows, your risks change
Winning a major customer, launching a new product, expanding overseas, taking on employees or handling more data are all signs of a growing business.
They’re also reasons to revisit your insurance.
The cover you arranged when your business was smaller may not necessarily reflect where you are today, or where you’re heading next.
That’s particularly relevant in music technology, where businesses can evolve quickly and technology, customers and commercial relationships can change at pace.
A new partner for the MTUK community
We’re pleased to be joining MTUK as a recommended supplier and want to contribute more than just insurance expertise.
We’ll be sharing practical insight with the community around issues such as cyber risk, underinsurance, business interruption, claims and what insurers are looking for when assessing technology businesses.
And for MTUK Grow members, there’s a particularly useful benefit.
As part of the Grow membership package, members can access a free audit of their current insurance cover and risk profile with Specialist Risk Group.
It’s a straightforward opportunity to sense-check whether your insurance has kept pace with your business and identify any areas that may be worth looking at more closely.
There is no obligation to change your insurance as a result. Sometimes a review confirms you’re in a good place. Sometimes it highlights something worth exploring.
Either way, it’s a useful conversation to have.
Is your insurance keeping pace with your technology?
If your business has changed since your last renewal, or you’re simply not sure whether your current cover reflects the risks you’re taking – we’d be happy to talk.
MTUK Grow member? Take advantage of your free insurance and risk profile audit with Specialist Risk Group.
Find out more about Specialist Risk Group’s technology expertise.