Expanding Cyber Insurance Access for US Businesses
Resilience, a leader in cyber risk solutions, has recently made strides to support US businesses seeking access to enhanced cyber insurance options. This new initiative allows companies generating revenue between $75 million and $10 billion to tap into the resources available from the RSA, a prominent UK insurer.
Innovative Partnership with RSA
Through an expanded partnership with RSA, Resilience is pleased to introduce a pioneering wholesale market facility to US clients. This strategic move enhances Resilience's existing domestic operations by enabling American firms to access cyber insurance capacity directly from the London market. This initiative is a game-changer for US businesses that prefer or require such coverage.
Benefits of the New Offering
The new arrangement brings a host of benefits for US-based clients:
- Wholesale Appetite: Resilience’s expanded authority enables it to underwrite US risks through the London market, which is particularly beneficial for companies looking for substantial insurance capacity.
- Local Expertise with Global Reach: Businesses in the US can now get tailored support for their risks that extend to the UK and EU, enhancing their overall risk mitigation strategies.
- Complementing US Operations: This innovative offering enhances Resilience's existing underwriting efforts in the US, providing a unique opportunity for clients to diversify their insurance capacity through London.
Response from Leadership
George Kotsiopoulos, president of insurance at Resilience, expressed enthusiasm about this development, stating that the capacity from the London market allows clients and brokers to build comprehensive insurance towers efficiently. He emphasized the unique position of Resilience in the cyber insurance sector, thanks to the robust combination of financial structure and proactive client engagement strategies.
Jack Jenner, managing director of international insurance for Resilience, echoed these sentiments, highlighting that US clients who wish to collaborate with London-based brokers can now leverage Resilience’s offerings. This partnership seeks to broaden the number of companies benefiting from innovative risk management approaches, which are vital in today’s risk landscape.
Recognized Expertise in Cyber Insurance
Resilience is not just about providing insurance but also about empowering clients to understand, quantify, and mitigate their cyber risks. The company has garnered accolades such as Zywave Insurance MGA of the Year and SC Media Risk Management Solution of the Year, showcasing its industry-leading software and solutions.
About Resilience
Resilience is on a mission to ensure organizations remain resilient in the face of cyber threats. Founded by a team of experts from the US military and intelligence, Resilience has established itself as a pioneering force in the cyber insurance landscape. The company's integrated solutions combine risk quantification, cybersecurity expertise, and A+ insurance suitable for large and middle-market organizations.
With its headquarters in San Francisco and teams spread across major cities such as New York, Chicago, and Toronto, Resilience continues to grow and expand its services to clients in the United States, Canada, the UK, and Europe. As a key player in the insurance industry, the company is backed by leading technology investment firms, ensuring its continued innovation and excellence.
Frequently Asked Questions
What is the new facility introduced by Resilience?
The new facility allows US businesses to access cyber insurance through the London market in partnership with RSA.
Who can benefit from this new offering?
US companies with revenue ranging from $75 million to $10 billion can benefit from this arrangement for enhanced cyber insurance options.
How does this initiative complement Resilience's existing operations?
This initiative provides additional capacity and resources, allowing Resilience to support US clients more effectively.
What distinguishes Resilience in the cyber insurance landscape?
Resilience is noted for its unique integration of risk quantification and cybersecurity expertise, making it a leader in the sector.
What are the accolades earned by Resilience?
The company has received multiple industry awards, including Zywave Insurance MGA of the Year and SC Media Risk Management Solution of the Year.
