Marsh L.L.C. and Validus Specialty Underwriting Services Inc. have launched Fintech Protect to provide comprehensive coverage to early stage, U.S.-based financial technology firms.

Fintech Protect offers coverage for management, professional, employment and cyber liability risks, Marsh said Tuesday in a statement. The policy also offers broad coverage for direct losses associated with theft, computer crime, extortion, data breach and technology failure in one solution.

Coverage is available to privately held firms operating in the financial technology space, including those backed by venture capital and private equity funds, with up to $10 million in primary, blended limits and excess capacity available, the statement said.

Fintech Protect can help such firms address financial and professional risks under one comprehensive policy and can offer proprietary policy wording designed to address the specific risks of privately-held financial technology companies, according to an email from a Marsh spokeswoman.

Clients can also get access to pre-approved cyber security service providers and outside counsel to help defend against costly litigation, according to the spokewoman.

Fintech Protect helps early stage financial technology firms avoid any coverage gaps, higher costs and inefficiencies associated with piecing together multiple policy forms and insurers, according to the statement.

“With Fintech Protect, we are enabling fintech firms to manage risk early in their financing cycle, with a simplified, comprehensive, and cost-efficient insurance solution,” Tom Orrico, financial institutions practice leader within Marsh’s financial and professional insurance business, said in the statement.

“Traditional insurance policies do not adequately address the complex and varied risks faced by fintech firms,” Cathy Cossu, senior vice president of professional lines at Validus Specialty, said in the statement. “Working with Marsh, we’ve challenged industry norms by crafting an innovative and market-leading solution specifically tailored to address these complex risk management needs.”