Venture Insurance

Campion Insurance are pleased confirm their acquisition Venture Insurance Brokers.

 

“Venture Insurance Brokers has experienced excellent growth over recent years, which is testament to the personal contact, professional service and a loyal customer base built by the Venture team. The specialist offering provided by Venture will further enhance our business and I look forward to investing in their continued success”, Jim Campion, CEO Campion Insurance.

 

Stephen McCann will continue with the business and lead further development of the proposition by providing clients with access to a broader range of products and services through Campion Insurance.

Having worked with Technology & Life Science companies for the past 20 years, we understand that change is the one constant.

To successfully operate in this environment, technology companies face more risks and deal with a wider range of exposures than those of a typical company.

Our team has the experience of arranging technology insurance covers and providing advice on complex contract matters to more than 200 Technology, Digital Media and Telecommunications companies.

 

Companies that require expert insurance assistance include:

• Managed IT services
• Telecommunications contractors
• Software developers
• Game developers and contractors
• Web hosting and management services
• Internet service providers
• Networking companies
• IT professionals, including consulting, servicing and technology management

 

The types of insurance coverage needed by Technology companies include:

• Office Combined insurance
• Errors and Omissions insurance / Professional Indemnity insurance
• Directors and Officers liability insurance
• Intellectual property insurance
• Cyber and Privacy insurance
• Cyber Liability insurance
• Employment Practices insurance
• Crime bonds / Crime insurance
• IPO insurance
• Mergers and Acquisitions insurance
• Global insurance programme management

 

Having the correct mix of insurance coverage to mitigate the risks unique to your company is vital.
Also, complying with customer contract requirements can be a daunting and sometimes confusing task, without the assistance of a specialist Technology Insurance Broker such as us.

 

We have listed below a sample of exposures that require specialised insurance solutions.

• Breach of contract
• Invasion of privacy
• Failure to protect data
• Unauthorised access
• Programming errors
• Customer changing project scope (often referred to as “project creep”)
• Problems with large integration / installation projects
• Cyber liability

 

If you are seeking quotes immediately or if you would simply like to get some non-committal professional guidance and advice, we would be delighted to hear from you.

 

Call Stephen Mc Cann now on +353 1 5175220 or email us – stephen@campion.com

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Important Assumptions

For the purpose of determining the term over which pension contributions are made, we have assumed your birthday was exactly six months ago.

If your target retirement age is lower than the age at which the Social Welfare pension commences (age 68 if you are born on/after 01/01/1961, age 67 if born before this date but on/after 01/01/1955 and age 66 if born before 01/01/1955) the calculations allow for funding for this gap, in addition to the cost of the annuity.

You are entitled to a full Social Welfare pension of €248.30 per week as at March 2019 which is assumed to increase by 2.5% per year.

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Your monthly pension contribution increases by 2.5% each year up until your retirement age and is invested in a pension plan with an annual management charge of 1% and a 5% charge on each contribution, in line with the Standard PRSA fees and charges maximum limit.

A Gross Investment Return of 4.2% per annum on your savings. This is not a forecast because the value of your investment may grow at a faster or slower rate than assumed and the value of your investment may be expected to fall from time to time as well as rise.

On retirement you purchase an annuity which escalates at 1.5% each year, has a 5-year guarantee and is payable monthly in advance. The annuity rate assumes a post retirement interest rate of 2% per annum and no spouse’s pension. The actual annuity rate will depend on the selection of dependant’s pension, guaranteed period and the escalation rate, as well as interest rates prevailing when the annuity is purchased.

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