Resilience, a leading cyber risk solution provider, has announced the expansion of its underwriting capacity to offer up to £10m in cyber insurance coverage across the United Kingdom and European Union.
This strategic move is the result of a partnership with renowned insurers RSA Insurance and R&Q Accredited, solidifying Resilience’s position as a cybersecurity leader in addressing the escalating complexity of cyber threats faced by businesses in these regions.
Vishaal “V8” Hariprasad, CEO and Co-Founder of Resilience, emphasised the global nature of cybercrime and the increasing challenges faced by enterprises: “When enterprises adopt a cyber resilience approach, they can withstand digital attacks without compromising their ability to deliver value. With this expanded capacity, we’re excited to have Rehan Hussain and Tom Ryan lead our major expansion efforts.”
Rehan Hussain, the newly appointed Head of Underwriting for International at Resilience, pointed out the demand for increased capacity and innovative solutions beyond traditional insurance offerings. He said, “Managing cyber risk effectively requires a partnership mentality. RSA and Accredited enable us to expand our collaboration with clients, building on the success of the Resilience Solution over the past year.”
Steve Watson, Managing Director UK Specialty Lines at RSA Insurance, expressed enthusiasm for the partnership and the shared commitment to enhancing client resilience against cyber risks: “Resilience are leaders in this space, and with a shared focus on building client resiliency, we look forward to working closely with them to bring these solutions to brokers and customers.”
Magnus Heimann, CUO of Accredited, echoed this sentiment, stating, “We are delighted to begin this new partnership with Resilience and RSA. We look forward to supporting the partnership’s future ambitions in the cyber market.”
Resilience fosters deep partnerships with clients and brokers to provide the best possible coverage. Their cyber risk solution empowers clients to monitor, interpret, and transfer cyber risk in an integrated and economically efficient manner.
RSA Insurance’s support for Resilience stems from its existing relationship with Intact Financial Corporation, RSA’s parent company, which recently led a $100m equity financing round for Resilience. This funding injection was secured to expedite global expansion and further promote the adoption of Resilience’s holistic cyber risk platform, the Resilience Solution, which was launched earlier this year.
Keep up with all the latest FinTech news here
Copyright © 2023 FinTech Global
