Vantage, a prominent insurance provider, has revealed it is underwriting U.S. primary cyber insurance through its U.S. insurance subsidiaries, offering up to $10m in capacity.
This new cyber coverage further accelerates the company’s sustained portfolio growth and extends its U.S. and Bermuda insurance capabilities for its brokers and clients.
The introduction of this new product is driven by market demand and increasingly complex cyber risks.
Vantage recognises the need to address these challenges and thus introduced excess cyber insurance capabilities in the U.S. and Bermuda in 2022.
The new U.S. primary offering aims to protect a wide range of industries, with a particular focus on the technology sector.
The new offering is designed to provide robust protection for both 1st and 3rd party costs. This includes coverage for technology E&O, media, network security, privacy liability, data breach notifications, credit monitoring, forensics and investigations, business interruption, data recovery and repair, regulatory fines and penalties, and extortion threats.
Vantage’s specialised claims expertise and attack response services further enhance the protection provided.
Additionally, the firm partners with leading specialists to offer incident response services that help insureds mitigate risks and rapidly recover from an event.
These services include call centre monitoring, forensic accounting, forensic incident response, public relations, and more, ensuring a comprehensive approach to cyber risk management.
Juliet White, Head of Cyber and Professions Errors & Omissions, commented, “Cyber risk is rapidly evolving and demands stable, long-term partnerships for effective risk management. Our team of experts is ready to meet the opportunity head-on. We’re excited to extend our capabilities into primary cyber and provide the protection that our clients need to grow their businesses.”
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