Reinsurance News

Vantage launches U.S. primary cyber insurance

11th June 2024 - Author: Beth Musselwhite -

Share

Vantage Group Holdings, a specialty insurer and reinsurer, has announced that its U.S. subsidiaries will now offer primary cyber insurance, providing up to $10 million in coverage.

This new cyber insurance offering supports the company’s continued portfolio growth and enhances its insurance capabilities in the U.S. and Bermuda for brokers and clients.

The coverage is tailored for a variety of industries, with a particular focus on the Technology sector. It features specialised claims expertise and attack response services, along with a deep understanding of Errors & Omissions (E&O) exposures, providing well-structured solutions in an evolving risk landscape.

The insurance covers both first and third-party costs, such as technology E&O, media, network security, privacy liability, data breach notifications and credit monitoring, forensic investigations, business interruption, data recovery and repair, regulatory fines, and extortion threats.

Vantage collaborates with top specialists to provide incident response services, helping clients manage risks and recover quickly from events. These services include call centre monitoring, forensic accounting, forensic incident response, and public relations support.

Juliet White, Head of Cyber and Professions Errors & Omissions at Vantage, explains, “Cyber risk is rapidly evolving and demands stable, long-term partnerships for effective risk management.”

She adds, “Our team of experts is ready to meet the opportunity head-on. We’re excited to extend our capabilities into primary cyber and provide the protection that our clients need to grow their businesses.”