Vienna’s Salus Insurance Brokers Pioneers Specialized Coverage for Tech’s New Risks – Breaking News for Google News & SEO
Vienna, Austria – In a rapidly evolving digital landscape, traditional insurance policies are falling short for companies operating in the “New Economy.” Today, Salus – Bicik & Struggl Insurance Brokers GmbH announced its focused approach to providing bespoke insurance solutions for IT startups, tech firms, life science companies, and beyond. This is urgent news for businesses grappling with cyberattacks, complex liability issues, and the ever-changing regulatory environment, particularly within the European Union. The firm’s emergence signals a critical shift in how risk is managed in the 21st century, and is poised to become a key player in the future of corporate insurance.
The Rise of ‘New Economy’ Risks & Why Standard Policies Fail
The digital revolution has birthed entirely new categories of risk. Ransomware attacks, data breaches, intellectual property disputes, and the legal ramifications of artificial intelligence are just a few examples. “Standard policies no longer apply in today’s economy,” explains Mag. Gerald Struggl, founder of Salus. “Entrepreneurs are facing threats their predecessors never imagined. We’re seeing a massive gap between the coverage offered by traditional brokers and the actual risks these companies face.” This gap isn’t simply about the *type* of risk, but also the *speed* at which businesses are evolving. A tech startup’s business model can pivot dramatically in a matter of months, rendering existing policies obsolete.
Salus: A ‘Translator’ Between Insurance & Tech
Salus positions itself as more than just an insurance broker; it’s a strategic partner that understands the intricacies of the New Economy. The firm’s core differentiator lies in its ability to “translate” the often-opaque language of insurance into practical risk mitigation strategies for tech-focused businesses. Instead of generic recommendations, Salus emphasizes a “Know-your-client” principle, conducting thorough analyses of existing contracts, proactively identifying potential financial losses, and delivering concrete, actionable advice. This approach is particularly valuable for companies that are often overlooked by brokers lacking specialized expertise.
Who Benefits from Salus’s Specialized Approach?
While Salus serves a diverse clientele, its primary focus is on future-oriented industries. This includes:
- IT & AI: Addressing cyber insurance, data privacy, and intellectual property risks.
- Robotics: Navigating liability concerns related to autonomous systems and automation.
- Organic Tech & Life Sciences: Managing product liability, clinical trial risks, and regulatory compliance.
- Creative Sectors: Providing tailored solutions for media, marketing, design, and social media artists.
- Regulatory Segments: Offering specialized coverage for industries like waste management.
The firm’s success is evidenced by its work with a tech startup that grew from three employees in 2017 to 150 employees and €160 million in revenue today, all while remaining protected against evolving cyber threats and operational risks. This demonstrates the power of flexible, adaptable insurance solutions.
Proactive Risk Management & Future Trends
Salus doesn’t just react to risks; it proactively seeks to prevent them. Regular status reports, a network of risk managers, lawyers, and IT security experts, and ongoing training on topics like cybersecurity and EU data protection requirements are all part of their comprehensive approach. Looking ahead, Struggl identifies several key trends shaping corporate insurance: increasing cyber threats, the growing influence of artificial intelligence, the rise of autonomous vehicles, and the expanding use of sensors. He urges entrepreneurs to review their policies before renewal on January 1st, emphasizing that “the rigid 10-year ties and unit concepts have had its day – the matter is too complex and the future is too insecure.”
Salus Insurance Brokers aims to become the go-to strategic partner for the New Economy, offering a structured approach to protection that combines operational liability, asset liability, cyber insurance, and manager liability (D&O) for optimal value. For companies navigating the complexities of the digital age, a proactive and specialized insurance strategy is no longer a luxury – it’s a necessity.
For more information, visit www.salus-insurance.at.
