Resilience launches tech E&O cover in UK and Europe with new Accredited capacity

By Rebecca Delaney

April 10 - (The Insurer) - Cyber insurtech MGA Resilience has launched cover for technology errors and omissions (E&O) in the UK and Europe for firms with revenues of more than 50 million pounds ($64.6 million).

The offering is also available to European clients with revenues of more than 25 million euros ($27.7 million).

It provides protection for hardware, software, telecommunications providers and web services, with limits up to 10 million pounds/euros for both primary and excess placements.

A Resilience survey of IT and security leaders in UK companies, in partnership with YouGov, found that business interruption ranked as the primary concern for 72% of enterprises.

This was also cited as the leading cause of claims for UK businesses, with 38% filing such claims.

Tech E&O cover aims to address this by protecting companies from liability arising from technology products and services.

The new cover is supported by Resilience's new capacity partnership with Accredited Insurance, which was announced earlier this month.

This saw Resilience also expand its capacity for cyber risk solutions to serve large enterprises with revenues exceeding $10 billion.