Syndicate Agreement Expands and Complements
Existing US offering
SAN
FRANCISCO, July 1, 2024 /PRNewswire/
-- Resilience, the leading cyber risk solution company, has
doubled the cyber insurance limits it can offer to clients in the
US to $20 million per client. This
announcement follows the launch of new features and capabilities
that enable enterprises to continuously manage the mitigation and
transfer of cyber risk. The agreement to expand Resilience's limit
capability was brokered by Lockton Re and utilizes Resilience's
existing coverholder partnership with Lloyd's (AM Best: A).
Resilience previously offered $10
million in limits, on a primary or excess basis in the US,
with an A+ AM Best-rated partner. The additional $10 million in excess limits supported by
underwriters at Lloyd's, can be deployed in sequential or
ventilated layers above Resilience's existing $10 million limit capability, up to $20 million in total.
"Our ability to offer up to $20
million in limits, along with Resilience's industry-leading
integrated cybersecurity and cyber risk solutions, will help our
clients and broker partners build insurance towers
efficiently, while also increasing the ability to deliver
much-needed loss prevention solutions to clients," said
Mario Vitale, president of
Resilience. "Resilience's leadership in the cyber insurance sector
stems from our unique combination of a financially proven AI
platform and our model for continuously engaging with clients to
manage their risk. We are delighted to continue our existing limits
and complement our coverage with additional capacity from Lloyd's
to help our clients become more cyber resilient."
"Together with our broker partners, Resilience drives better
outcomes for our clients to help them become resilient to material
losses – reflected in that 96% of our Edge clients avoided any
claim with incurred costs in 2023," said CJ Pruzinsky, global head
of underwriting for Resilience. "With this new partnership, we can
provide twice the coverage to our clients and expand the footprint
of companies that can benefit from our unique approach to
assessing, mitigating, and transferring risk."
With the additional limits for cyber insurance, and new coverage
for technology errors and omissions (E&O) liability, for US
organizations with up to $10 billion
in revenue, Resilience offers broad capabilities to help large
enterprises manage complex cyber risks.
For more information about us,
visit www.cyberresilience.com.
Follow Resilience on LinkedIn
About Resilience
Resilience helps organizations become cyber resilient to
material losses by staying ahead of bad actors. Founded by experts
from across the highest tiers of the US military and intelligence
communities – and built by prominent leaders and innovators from
the cybersecurity, technology, and insurance industries –
Resilience is the world's first cyber risk company that offers risk
quantification software, cybersecurity experts, and A+ insurance in
integrated solutions purpose-built for large and middle-market
organizations.
Resilience is proud to be backed by leading technology
investment firms including General Catalyst, Lightspeed Venture
Partners, Intact Ventures, Founders Fund, CRV, and Shield Capital.
With headquarters in San
Francisco, Resilience is globally dispersed, with teams in
New York, Chicago, Los
Angeles, Baltimore,
Toronto, London, and Dublin. Resilience offers insurance coverage
through its licensed and appointed insurance agents, and security
services through its expert security team. The Resilience Solution
is available through all broker partners to clients in the United States, United Kingdom, Canada, and Europe.
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SOURCE Resilience