Global broker Howden has announced that it has launched a new primary cyber and technology errors & omissions (E&O) facility.
The facility has been developed in conjunction with the Lloyd’s Insurance Company
According to the announcement, the product has been designed for a wide range of cyber and technology risks across 14 different countries across Europe, and companies with up to EUR 3 billion turnover will be eligible.
These 14 countries are: Sweden, Finland, Norway, Denmark, Iceland, France, The Netherlands, Belgium, Luxembourg, Germany, Switzerland, Spain, Italy, and Greece
Moreover, this new product will be led by Canopius and IQUW, along with support from three other Lloyd’s insurance company markets and benefits from up to EUR 20,000,000 limits and an A Excellent – AM Best Credit Rating.
A key highlight of the product is that it comes with an insurer led breach response capability with a 24/7 hotline and ability to accommodate all languages.
It will also provide access to a wide range of pro-active risk management services.
Shay Simkin, Global Head of Cyber, Howden, commented: “The EU Mid-Market Lineslips derived from the growing need to service European clients with meaningful capacity. We are excited to release this pioneering product into the market to help clients get the best coverage they can.”
