Cowbell, a provider of cyber insurance for small & medium-sized businesses (SMEs) and Skyward Specialty Insurance Group, have entered into a partnership that expands Cowbell’s coverage and capacity of its Prime 250 Cyber Liability and Prime Tech.
Prime 250 Cyber Liability and Prime Tech is a recently introduced program that safeguards businesses generating revenue of up to $500 million against cyber and technology errors and omissions (E&O) risks.
This alliance between the two companies will leverage Skyward Specialty’s expertise in bringing inventive insurance offerings to underserved markets that directly address growing risks unique to those businesses.
At the same time, the partnership will also provide Cowbell with access to Skyward Specialty’s industry partners to strengthen its capacity to deliver comprehensive coverage to meet evolving market needs.
Further, this alliance between the two firm’s will also aid in expanding Cowbell’s omnichannel distribution network, which currently comprises over 23,000 appointed agents and 3,500 agencies across all retail, wholesale, and embedded channels.
“Partnering with Cowbell is another bold step in our strategy to lead in our chosen markets,” said Andrew Robinson, Skyward Specialty CEO.
“We have spent over a year getting to know Cowbell, their leadership and team, and have been impressed by the underwriting precision they achieve, and their unique approach to continuous cyber risk assessment. This partnership is a powerful combination of two great companies.”
“We continuously monitored 95% of U.S. SMEs’ cyber risks for the last four years and have found that there’s a massive gap in cyber protection that is overlooked for this vastly underserved market. The insurability gap for these businesses is championed through this exciting new partnership with Skyward Specialty,” said Jack Kudale, Founder and CEO of Cowbell.
“This partnership leverages the expertise of the deeply experienced leaders and team members at Skyward Specialty, some of whom were part of helping to create the cyber insurance marketplace over 20 years ago.”
