Vantage Group Holdings Ltd Announces US Primary Cyber Insurance Offering

Bermudian-based Vantage Group Holdings Ltd Expands Cyber Insurance Offerings in the US

In a move to address the growing demand for cyber insurance coverage, Vantage Group Holdings Ltd, based in Bermuda, has announced that it will now be underwriting US primary cyber insurance through its US insurance subsidiaries. This new offering will provide up to $10 million in capacity for clients seeking protection against cyber risks.

The decision to expand into the US primary cyber insurance market comes as a response to the increasing complexity of cyber threats and the need for specialized coverage in the technology industry sector. Vantage had previously introduced excess cyber insurance capabilities in the US and Bermuda in 2022, and this latest move further solidifies the company’s commitment to providing comprehensive cyber insurance solutions.

The primary cyber insurance offering from Vantage will cover a wide range of industries and include protection for first and third-party costs such as technology errors and omissions, media liability, network security, privacy liability, data breach notifications, and more. The coverage will also include services such as forensics and investigations, business interruption, data recovery, regulatory fines and penalties, and extortion threats.

Juliet White, head of Cyber and Professions Errors & Omissions at Vantage, emphasized the importance of stable, long-term partnerships in managing cyber risk. She stated, “Cyber risk is rapidly evolving and demands stable, long-term partnerships for effective risk management. Our team of experts is ready to meet the opportunity head-on. We’re excited to extend our capabilities into primary cyber and provide the protection that our clients need to grow their businesses.”

Vantage has also partnered with leading specialists to offer incident response services that help insureds mitigate risk and recover from cyber events quickly. These services include call center monitoring, forensic accounting, forensic incident response, public relations, and more.

Overall, Vantage’s expansion into the US primary cyber insurance market represents a significant step in providing comprehensive cyber insurance solutions to clients in the US and Bermuda. With the increasing threat of cyber attacks, having robust cyber insurance coverage is essential for businesses looking to protect themselves from potential financial losses and reputational damage.