Resilience, a leading cyber risk management firm, has announced the launch of its new Technology Errors and Omissions (Tech E&O) insurance product across the UK and Europe. Delivered in collaboration with Accredited Insurance, the offering is designed to address escalating concerns around business interruption and third-party vendor risk, particularly among large enterprises.
This strategic move follows findings from a Q4 2024 survey conducted by Resilience in partnership with YouGov, which highlighted that 72% of IT and security leaders at UK-based organisations with annual revenues exceeding £100 million cited business interruption as their primary concern. Additionally, 38% of respondents confirmed they had already filed claims related to such incidents. The introduction of Tech E&O coverage directly responds to this growing need for more comprehensive protection.
The new coverage provides liability protection for companies involved in developing or deploying technology products and services, including hardware, software, telecommunications, and web-based platforms. It is available to organisations generating more than £50 million or €25 million in annual revenue, with limits of up to £10 million or €10 million for both primary and excess placements across the UK and Europe.
Resilience’s approach to cyber risk is grounded in financially-proven models, real-time intelligence, and customised mitigation strategies. Its comprehensive suite of services includes cyber insurance, threat intelligence, and advanced risk quantification software. The company’s underwriting and claims teams are widely recognised for their expertise in managing complex and evolving cyber threats, positioning Resilience as a key partner for enterprise-level risk management.
In a further show of commitment to large-scale enterprises, Resilience is also expanding capacity for clients with annual revenues exceeding £10 billion or €10 billion. This move offers broker partners increased flexibility in delivering tailored cyber solutions to their largest clients.
Survey data also underscores a growing awareness of vendor risk, particularly among larger organisations. These companies are twice as likely as smaller firms to view vendor due diligence as an effective risk management strategy. Notably, vendor-related incidents accounted for nearly a quarter of Resilience’s material claims in 2024, highlighting the critical role of robust coverage in today’s complex cyber threat landscape.
