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Trium Cyber Syndicate 1322 begins to provide coverage

3rd January 2023 - Author: Kassandra Jimenez-Sanchez

Trium Cyber has announced its US-based service company has begun to provide cyber and technology errors & omissions coverage for US-domiciled risks.

Writing on behalf of Lloyd’s Syndicate 1322, the company is backed by Pelican Ventures and third-party capital providers like Asta, the leading third-party managing agent at Lloyd’s.

In November 2022 it received final approval from Lloyd’s of London to commence underwriting businesses on or after January 1, 2023. It also announced its plans to underwrite $50 million of gross premiums in the cyber market for this year.

According to the announcement, Trium Cyber is the industry’s first Lloyd’s-approved company providing mono-line cyber coverage for US risks.

In addition to proprietary underwriting, Trium Cyber will also provide clients access to complimentary cyber risk management and real-time loss mitigation services.

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The Lloyd’s-backed syndicate has not only entered the US cyber market with fresh capital but with an “industry-leading” team.

Josh Ladeau, CEO, said: “Trium Cyber’s management team is uniquely qualified to service the US market while offering Lloyd’s A+ rated security to our clients.

“Our team members are known in the industry for their advanced technical underwriting, outstanding claims management and depth of experience.”

Ladeau is former Aspen global head of cyber. Jeff Bores, also formerly of Aspen, joins Ladeau as Trium’s Chief Underwriting Officer. In addition to more than a decade of underwriting experience, both have earned highly coveted Certified Information Systems Security Professional (CISSP) designations, representative of differentiated technical insight.

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