Munich Re launches E&O insurance for cyber and tech risks
Munich Re Specialty Insurance has launched new cyber and technology errors and omissions (E&O) insurance solutions designed to protect US-domiciled organisations.
The new solutions will be offered on a non-admitted basis for both primary or excess protection.
The policies have been designed to automatically include coverages which are typically provided by other carriers only through endorsements to policies. Coverage will be underwritten on behalf of the Munich Re Syndicate at Lloyd’s.
Steve Pacheco, head of US cyber and technology E&O for Munich Re Specialty Insurance, said: “There is no one size fits all model when it comes to underwriting cyber risk. Understanding risk and offering flexibility is critical to helping our policyholders protect against the ever-evolving nature of cyber risk. Our cyber insurance team offers the considerable underwriting and claims expertise needed to provide a superior product to our policyholders.
“The U.S. cyber/technology team’s bench strength, combined with the depth of expertise in our Munich Re Syndicate and the Munich Re global cyber teams, enables us to deliver market leading underwriting solutions for our policyholders’ most complex cyber risks.”
