Markets/Coverages: Howden Launches European Cyber & Tech E&O Facility

Howden, the global insurance group, today announces the launch of one of the first dedicated European cyber and technology errors & omissions line slips for primary business.

The product is led by Canopius and IQUW with support from three other Lloyd’s insurance company markets and benefits from up to €20 million ($21.6 million) limits and an A Excellent – A.M. Best Credit Rating. (Canopius and IQUW both underwrite through Lloyd’s syndicates).

This product is designed for a wide range of cyber and technology risks in 14 different countries across Europe and companies with up to €3 billion ($3.2 billion) turnover will be eligible.

Highlights of the facility follow here:

• Full 1st and 3rd party primary cyber & tech E&O coverage;
• Insurer led breach response capability with 24/7 hotline and ability to accommodate all languages;
• Access to a suite of pro-active risk management services; and,
• Streamlined cyber application form.

Risks domiciled in the following countries can submit to Howden for terms:

1. Sweden
2. Finland
3. Norway
4. Denmark
5. Iceland
6. France
7. The Netherlands
8. Belgium
9. Luxembourg
10. Germany
11. Switzerland
12. Spain
13. Italy
14. Greece

“The EU Mid-Market Lineslips derived from the growing need to service European clients with meaningful capacity. We are excited to release this pioneering product into the market to help clients get the best coverage they can,” commented Shay Simkin, global head of Cyber, Howden.

Source: Howden

Topics Cyber InsurTech Europe Tech New Markets