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Cyber risk solution company Resilience has doubled the cyber insurance limits it can offer to clients in the US to $20 million per client.
The agreement to expand Resilience’s limit capability was reportedly brokered by Lockton Re and utilises Resilience’s existing coverholder partnership with Lloyd’s.
“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,” the firm explained.
Mario Vitale, president of Resilience, commented, “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.
“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.”
CJ Pruzinsky, global head of underwriting for Resilience, added, “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.
“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.”
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