Concierge Cyber gets Lloyd’s capacity for standalone cyber program

By Chris Munro

June 16 - (The Insurer) - Concierge Cyber has secured capacity from Lloyd’s of London to support its new standalone cyber insurance program InsurePLUS.

Through the new offering, the Atlanta, Georgia-based cyber risk management specialist also offers clients an endorsement that allows policyholders to use their own third-party vendors for breach response services, even if those suppliers are not on the insurer’s pre-approved panel.

According to Concierge Cyber, this flexibility helps insureds avoid breaching existing contracts with service providers and reduces the risk of costly legal disputes following a cyber incident.

“Most cyber insurance policies require insureds to only use the insurer’s approved panel of third-party service providers for breach response services,” explained Kurt Suhs, Concierge Cyber’s CEO.

“The InsurePLUS insurance policy with our response endorsement is designed to give insureds greater control in responding and managing a cyber breach with their expert industry providers of choice,” Suhs added.

As Suhs noted, through Concierge Cyber’s InsurePLUS program with the My-CHOICE endorsement, insureds, provided they have prior written consent, can work outside the insurer’s panel and with their preferred breach response firms.

“This endorsement aligns policyholder preferences with insurance requirements, helping reduce contractual conflicts, improve breach readiness, and protect agents from unnecessary E&O exposure,” Suhs said.

Concierge Cyber’s core offering is an annual membership that provides personalized cyber incident response services and insurance claims advocacy.

By signing up, members gain access to a group of specialists with experience of navigating cyber risk.

Concierge Cyber was launched in 2018 by Suhs, a former Ace and Ironshore executive whose career also includes time spent at the Federal Deposit Insurance Corporation, INSUREtrust and Brown & Brown.