New program manager provides end-to-end cyberrisk management services
Intact Insurance Specialty Solutions, the brand for Intact Financial Corporation’s U.S. insurance company subsidiaries, announced today its new cyber insurance solutions delivered in partnership with program manager Resilience Insurance. By innovatively blending Resilience’s cyber analytics technology with Intact’s risk transfer capabilities, the companies are enhancing the breadth of risk mitigation available to the cyber insurance market.
“We are very pleased to be partnering with the Resilience team, whose track record and deep expertise in the cyberrisk space parallels our hallmark specialized approach to the marketplace,” said Mike Miller, President of U.S. and Intact Insurance Specialty Solutions. “Our new partnership with Resilience comes at an exciting time for us all, and positions us well for future growth and opportunity.”
Through this opportunity, standalone cyber coverages coupled with cyberrisk assessments and technical risk engineering will be available to commercial middle-market clients through select retail brokers. This specialized approach for mitigating cyberrisk through a dedicated team of experts, coupled with Resilience’s patented cyberrisk technology, accelerates addressing the pervasiveness of cybercrime. Coverages will initially be written on non-admitted paper.
“We first launched Resilience to secure enterprises from cyber threats by blending cybersecurity expertise, intelligent risk assessments and risk transfer,” shared CEO and Co-Founder of Resilience, Vishaal, known among the industry as “V8,” Hariprasad. “Resilience delivers a new way of evaluating and transferring cyberrisk, offering solutions that allow us to deliver better underwriting while reducing our insured’s likelihood of falling victim to cybercrime.”
By transforming how risk is measured and assessed, Resilience Insurance will enable companies to be more proactive against cybersecurity attacks, with coverages provided by Intact Insurance’s A.M. Best “A+” rated underwriting companies.
“Resilience is reinventing cyber insurance by aligning our interests with those of the companies we insure,” said Mario Vitale, President of Resilience. “Combining dynamic cybersecurity technology with senior underwriting talent mitigates risk prior to policy issuance and encourages insured companies to maintain a vigilant security posture. Superior claims service then sets Resilience apart in the event of a cybercrime incident.”
Source: Company Press Release