Global brokerage firm Howden has unveiled a cutting-edge primary cyber and technology errors & omissions (E&O) facility in partnership with Lloyd’s Insurance Company.
The newly introduced facility is tailored to address a diverse array of cyber and technology risks spanning 14 European countries. Companies with turnovers of up to EUR 3 billion are eligible to leverage this innovative solution.
The countries covered by this initiative include Sweden, Finland, Norway, Denmark, Iceland, France, The Netherlands, Belgium, Luxembourg, Germany, Switzerland, Spain, Italy, and Greece.
Canopius and IQUW will take the lead in overseeing this groundbreaking product, with support from three other Lloyd’s insurance company markets. The facility boasts limits of up to EUR 20,000,000 and holds an A Excellent – AM Best Credit Rating.
A standout feature of this product is its insurer-led breach response capability, complete with a 24/7 hotline and multilingual support. The offering extends beyond financial coverage, providing users with access to a wide array of proactive risk management services. This development signals a significant stride in the realm of cybersecurity and technology insurance solutions.
Speaking about the launch, Shay Simkin, Hopwden’s Global Head of Cyber, said: “The EU Mid-Market Lineslips derived from the growing need to service European clients with meaningful capacity.”
He added: “We are excited to release this pioneering product into the market to help clients get the best coverage they can.”
