NOVA
- Overview
- Integrated emerging-risk programme
- What it protects
- The company as a technology business: one programme across liability, cyber, crime, property and D&O.
- Written against
- Written to the recognised security baselines the sector already audits against
Integrated emerging-risk programme
Cover modules
- Single risk perimeter
One perimeter drawn around the technology exposure, rather than several drawn around insurance products.
- Cross-class structuring
Liability, cyber, technology and physical exposures structured together with deliberate seams.
- Continuous underwriting
The programme responds to observed change in the risk rather than waiting for renewal.
- Unified response
One incident route across all classes, coordinated from the first notification.
- Portfolio view
Aggregation and correlation managed at group level for organisations operating several technologies at once.
Perils covered
- Cyber risk across the estate the business actually runs
- Cyber crime: fraud, extortion and payment instructions obtained by deception
- Professional indemnity, including the decisions software makes for the company
- Public and products liability for the technology the business operates and sells
- Commercial property, and the physical exposure a technology failure produces
- Directors’ and officers’ liability, for the company and the people who run it
- The seams between them, which is where a split programme fails
Never covered
- Coins and client assets held in custody, that is a specie programme, not this one
- Market and trading outcomes of any kind
- Activity outside the described operating model
- Loss known before inception
- War, terrorism, nuclear energy, pandemic and sovereign acts
Conditions of inception
These are conditions of inception, not matters of claim. Where the evidence is not in place, cover does not attach.
Written against
- Written to the recognised security baselines the sector already audits against
- Aligned with the regulatory perimeter the business operates inside
- Defined aggregates by account and by portfolio
Minimum technical standard
A stated security baseline the business already meets, evidenced rather than asserted.
One operating model
A single description of what the business does, which all four sections are written against.
Technical attestation
An independent technical risk assessment, at inception and on material change.
Selective from day one
Risks are written on their merits; the programme is not an aggregation of whatever applies.
Built for
- AI and robotics companies
- Autonomous systems operators
- Multi-technology groups
- Investors with concentrated technology exposure
Capacity, limits, wordings and commercial terms are not published. They are structured per counterparty and shared directly under engagement.