PriyaPatel
TLDR:
- Vantage is introducing U.S. primary cyber insurance with up to $10m in capacity.
- This new coverage addresses market demand for protection against complex cyber risks.
Vantage, a leading insurance provider, is now underwriting U.S. primary cyber insurance through its U.S. insurance subsidiaries, offering up to $10 million in capacity. This new cyber coverage responds to the increasing market demand for protection against complex cyber risks. The new product extends Vantage’s U.S. and Bermuda insurance capabilities for brokers and clients, with a specific focus on the technology sector.
The U.S. primary cyber insurance offering is designed to protect a wide range of industries by providing robust coverage for both 1st and 3rd party costs. This includes coverage for technology errors & omissions, media liability, network security, privacy liability, data breach notifications, credit monitoring, forensics and investigations, business interruption, data recovery and repair, regulatory fines and penalties, and extortion threats. Vantage also offers specialized claims expertise and attack response services to enhance protection.
In addition to the insurance coverage, Vantage partners with leading specialists to offer incident response services, such as call center monitoring, forensic accounting, forensic incident response, public relations, and more. These services help insureds mitigate risks and recover rapidly from cyber events, providing a comprehensive approach to cyber risk management.
Juliet White, Head of Cyber and Professions Errors & Omissions at Vantage, emphasized the importance of stable partnerships for effective cyber risk management in the rapidly evolving cyber landscape. The introduction of the U.S. primary cyber insurance underscores Vantage’s commitment to providing the necessary protection for businesses to grow.
Overall, Vantage’s new U.S. primary cyber insurance offering addresses market demand for specialized coverage against escalating cyber risks. The comprehensive protection, combined with expert claims handling and incident response services, aims to help businesses navigate and recover from cyber events effectively.
