Resilience, a provider of cyber risk solutions, has expanded its services to cater to large enterprise accounts with revenues exceeding $10bn.
Accredited Insurance supported the expansion along with a consortium of global cyber reinsurers.
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The move offers broker partners additional options to manage their clients’ “complex” cyber risks, the company said.
Set up in 2020, the company has been serving clients facing cyber threats with high-quality cyber liability insurance and technology errors and omissions insurance.
Resilience claims that more than 10% of US enterprises with annual revenues of $1bn rely on it for integrated cyber risk management solutions.
Resilience’s approach to managing cyber risk includes in-house claims handling for clients for direct claims and incident management.
Additionally, their Risk Operations Centre evaluates both first and third-party risks, providing ongoing threat intelligence and critical findings to help prevent losses.
Resilience Insurance president George Kotsiopoulos said: “The future of cyber insurance is to deliver integrated security and insurance solutions that help clients prevent losses, not just react to them. With this expansion of our capacity, our broker partners can now offer Resilience as an option for large accounts in their portfolio, expanding their options to serve clients’ most complex cyber risks. This partnership with Accredited helps us meet the growing demand in the market with high-quality solutions.”
The company also offers a cyber decision platform that equips chief information security officers, CFOs and risk managers with the tools to quantify, communicate and manage cyber risk.
This service is part of the company’s platform services business unit.
Resilience president Mario Vitale stated: “Whether we are a primary or excess cyber insurance partner, our underwriting, continuous risk intelligence and senior in-house claims handling helps clients prevent material losses.
“Our adoption within enterprise clients has accelerated as clients have realised that from risk modelling to incident management, Resilience has delivered better results than any other provider on the market.”
In February, Resilience expanded its partnership with RSA Insurance, which now allows the company to underwrite US-based risks through the London wholesale market.
This expansion enables Resilience to underwrite risks for US companies with revenues ranging from $75m to $10bn via the London market.
