San Francisco, CA (July 1, 2024) \u2013 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\u2019s limit capability was brokered by Lockton Re and utilizes Resilience\u2019s existing coverholder partnership with Lloyd\u2019s (AM Best: A).<\/p>\n
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\u2019s, can be deployed in sequential or ventilated layers above Resilience\u2019s existing $10 million limit capability, up to $20 million in total.<\/p>\n
\u201cOur ability to offer up to $20 million in limits, along with Resilience\u2019s 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,\u201d said Mario Vitale, president of Resilience. \u201cResilience\u2019s 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\u2019s to help our clients become more cyber resilient.\u201d<\/p>\n
\u201cTogether with our broker partners, Resilience drives better outcomes for our clients to help them become resilient to material losses \u2013 reflected in that 96% of our Edge clients avoided any claim with incurred costs in 2023,\u201d said CJ Pruzinsky, global head of underwriting for Resilience. \u201cWith 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.\u201d<\/p>\n
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.<\/p>\n
Resilience helps organizations become cyber resilient to material losses by staying ahead of the bad guys. Founded by experts from across the highest tiers of the US military and intelligence communities \u2013 and built by prominent leaders and innovators from the cybersecurity, technology, and insurance industries \u2013 Resilience is the world\u2019s 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.<\/p>\n
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 agency, 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. For more information, visit www.cyberresilience.com<\/a>. Your risk is our risk.<\/em><\/p>\n Lloyd\u2019s is the world\u2019s leading insurance and reinsurance marketplace. Through the collective intelligence and risk-sharing expertise of the market\u2019s underwriters and brokers, Lloyd\u2019s helps to create a braver world. The Lloyd\u2019s market provides the leadership and insight to anticipate and understand risk, and the knowledge to develop relevant, new and innovative forms of insurance for customers globally. It offers the efficiencies of shared resources and services in a marketplace that covers and shares risks from more than 200 territories, in any industry, at any scale. And it promises a trusted, enduring partnership built on the confidence that Lloyd\u2019s protects what matters most: helping people, businesses and communities to recover in times of need. The Future at Lloyd\u2019s sets out our strategy to build the most advanced insurance marketplace in the world. For more information, visit www.lloyds.com<\/a>.<\/p>\n SOURCE: Resilience<\/em><\/p>\n Tags: Cyber Insurance<\/a>, InsurTech<\/a>, InsurTech Spotlight<\/a>, Lloyd’s<\/a>, partnership<\/a>, Resilience InsurTech<\/a>, United States (USA)<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Syndicate Agreement Expands and Complements Existing US offering San Francisco, CA (July 1, 2024) \u2013 Resilience, the leading cyber risk solution company, has doubled the cyber insurance limits it can offer to clients in...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/22096"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=22096"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/22096\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=22096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=22096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=22096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}About Lloyd\u2019s<\/b><\/h4>\n