Resilience, a leading provider of cyber risk solutions, has launched a new Technology Errors and Omissions (Tech E&O) coverage across the UK and Europe, in partnership with Accredited Insurances.
The move comes in response to increasing concerns over business interruption and vendor risk, particularly among large enterprises.
According to a Q4 2024 survey conducted by Resilience in partnership with YouGov, 72% of IT and security leaders in UK firms with annual revenues exceeding £100m identified business interruption as their top concern. Furthermore, 38% reported filing claims due to such incidents. The new Tech E&O product aims to fill this critical gap in protection.
The newly launched Tech E&O product provides liability protection for companies that develop or use technology products and services, including hardware, software, telecommunications, and web services.
It is available to firms with over £50m or €25m in annual revenue, with limits up to £10m or €10m across the UK and Europe, respectively. This coverage is offered for both primary and excess placements.
The firm provides clients with cyber risk solutions grounded in financially-proven models, real-time insights, and tailored action plans.
Its suite of services includes cyber insurance, threat intelligence, and advanced risk quantification software. The firm’s underwriting and claims teams are recognised for their expertise in navigating complex cyber exposures, making Resilience a trusted partner for enterprises facing evolving digital threats.
In addition to Tech E&O, Resilience is also expanding capacity for clients with over £10bn or €10bn in annual revenue. This enhancement provides broker partners with more flexibility to meet the complex cyber needs of large-scale enterprises.
Recent survey insights also reveal that larger companies are more likely to recognise the importance of vendor risk. Twice as many large businesses compared to smaller ones see vendor due diligence as effective. Vendor-related issues accounted for nearly a quarter of Resilience’s material claims in 2024, underscoring the importance of robust coverage in today’s cyber threat landscape.
Resilience managing director, international insurance, Jack Jenner said, “Technology is embedded in every company’s operations and technology companies deserve a partner that understands their complex needs and can help them stay ahead of evolving threats. Our new Tech E&O coverage, alongside our existing cyber insurance and cyber risk quantification software offerings, provides a more holistic and integrated risk management solution to our clients.”
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