Resilience, a prominent cyber risk management firm, has recently unveiled its latest offering of Technology Errors & Omissions (E&O) coverage tailored for U.S. organizations with $300 million to $10 billion in revenue. This new addition to Resilience’s existing cyber insurance lineup aims to provide clients with enhanced risk management and liability coverage for technology products and services.
Vishaal “V8” Hariprasad, co-founder and CEO of Resilience, highlighted the significance of technology in today’s business landscape, stating that it is a core element integrated into the operations of every company. With this in mind, the introduction of Tech E&O coverage, in conjunction with Resilience’s current cyber insurance and cyber risk quantification software offerings, presents a comprehensive and integrated risk management solution for clients.
The introduction of this new coverage is a timely response to the growing trend of digitalisation across various industries. As technology becomes more deeply embedded in business operations, the potential risks and liabilities associated with it also increase. Resilience’s Tech E&O insurance is designed to address this specific need for coverage, offering a proactive approach to incident response and lowering overall risk for companies.
Mario Vitale, President of Resilience, emphasised the intricate and often poorly understood nature of technology risk within the insurance market. Historically, providing Tech E&O coverage has posed challenges for the commercial insurance industry, making it a rare offering for mid-sized and large clients. However, Resilience’s proven track record in the cyber risk landscape and its ability to navigate complex risks position the company as a leading provider of this specialised coverage.
In addition to its comprehensive underwriting and claims teams, Resilience also brings a wealth of experience in managing the intricate details of technology contracts that can lead to liability risks. This expertise, combined with data-driven decision-making and advanced technology, enables Resilience to offer tailored policies that meet the specific needs of each company.
The launch of Technology E&O coverage marks another milestone in Resilience’s growth and expansion. The company has recently made strategic acquisitions and expanded its insurance underwriting authority to serve clients with up to $10 billion in revenue, achieving industry-leading loss ratios in 2023.
Resilience’s new offering has garnered support from industry partners, with T. Michael Miller, CEO Global Specialty Lines at Intact, expressing approval of the company’s ongoing commitment to enhancing client security in the cyber insurance space.
As Resilience continues to evolve and expand its capabilities, its latest addition of Tech E&O coverage reinforces its position as a leading provider of comprehensive cyber risk management solutions for organisations in the United States. For more information about Resilience and its offerings, visit www.cyberresilience.com.
In conclusion, Resilience’s introduction of Technology Errors & Omissions (E&O) coverage represents a strategic response to the increasing digitisation of business operations. By providing tailored insurance solutions for technology-related risks and liabilities, Resilience is demonstrating its commitment to helping organisations effectively navigate the evolving cyber risk landscape. With the backing of leading technology investment firms, Resilience is well-positioned to continue offering innovative and integrated cyber risk solutions to clients in the U.S. and beyond.
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