Resilience to Expand Cyber Capacity With Accredited

Resilience is expanding the availability of its cyber risk solutions to serve large enterprise accounts with revenue greater than $10 billion.

The expanded underwriting authority provides broker partners with more options in addressing clients’ complex cyber risks. The expansion is supported through a new partnership with Accredited Insurance, backed by a panel of leading global cyber reinsurers.

“With this expansion of our capacity, our broker partners can now offer Resilience as an option for large accounts in their portfolio, expanding their options to serve clients’ most complex cyber risks. This partnership with Accredited helps us meet the growing demand in the market with high quality solutions,” said George Kotsiopoulos, president of insurance at Resilience

More than 10% of American enterprises generating $1 billion or more in revenue already turn to Resilience with its integrated cyber risk management solutions.

This expansion comes at a time when enterprises are struggling to address rising rates of cybercrime and ecosystem risk from third-party business interruption, Resilience said. According to the Resilience 2024 Cyber Risk Report, third-party related claims accounted for 31% of all claims, and 23% of material losses. Ransomware remained a top cause of loss in 2024, with 43% of incurred claims involving first-party ransomware incidents. This year also saw the emergence of ransomware targeting vendors.

Topics
Cyber