Managing general agent Resilience has added technology errors & omissions (E&O) cover to its cyber insurance proposition.
Aimed at US organizations with revenues ranging from $300 million to $10 billion, the tech E&O addition will provide up to $10 million in limits for both primary and excess placements. It is designed to bolster Resilience’s cyber insurance offering by helping clients manage liability associated with technology products and services.
Vishaal Hariprasad, co-founder and chief executive of Resilience, highlighted the importance of the new cover, saying: “In an increasingly digitized world, technology is embedded in every company’s operations in some way, shape, or form.
“As such, our new tech E&O coverage, coupled with our existing cyber insurance and cyber risk quantification software offerings, provides a more holistic and integrated risk management solution to our clients.”
Resilience president Mario Vitale added: “Technology risk is often poorly understood by the insurance market, making tech E&O a historically challenging offering for the commercial insurance industry to provide to their clients.”
Vitale stressed that Resilience’s proven track record in assisting companies through the complexities of the digital cyber risk landscape allows them to be among the few managing general agents capable of delivering such coverage, especially to mid-sized and large enterprises.
Gavin Reed, head of US underwriting at Resilience, shared insights into the team’s expertise.
“Our underwriting and claims teams bring years of experience in this line of business, including reviewing and managing the complex intricacies of technology contracts that often lead to liability risks,” Reed said.
He highlighted that this expertise is complemented by Resilience’s data science capabilities, technology, and the A+ coverage and contract certainty that they offer.
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