Skyward Specialty addresses unmet market need with new technology E&O product – InsuranceNewsNet

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HOUSTON–(COMMERCIAL WIRE)–
Skyward Specialty Insurance Group, Inc.™ (“Skyward Specialty” or the “Company”), a leader in the specialized property and casualty (P&C) market, announced that it will add a technology errors and omissions (E&O) liability insurance solution to its growing portfolio of professional responsibility. The coverage offers customized solutions for the unique exposures faced by technology companies.

Currently available solutions that combine Technology E&O and Cyber ​​Liability present a growing problem in terms of more restrictive coverage, higher prices, higher retentions and less capacity available to customers.

“We have strong relationships in the marketplace and, based on feedback from our industry partners, recognized a growing and untapped capacity for technology responsibility,” he said. jim mormile, Senior Vice President, Professional Responsibility. “Our team of underwriting and claims experts’ deep understanding of E&O risk in the technology sector enabled us to create a solution that we believe addresses capacity issues in this niche space that traditional combined cyber and technology coverage cannot.” can”.

Companies that offer cutting-edge services and products that are regularly evolving, such as technology, telecommunications, and Internet-based services companies, are prime candidates for Skyward Specialty’s E&O technology coverage.

“We have developed a solution designed to keep pace with the ever-changing risk profile of technology companies. Our E&O coverage is customizable and flexible to address their less tangible and less traditional risks,” said Mormile.

The addition of Technology E&O Liability to the professional liability portfolio follows several recent strategic additions to the portfolio, including cannabis and, more recently, employed attorney liability.

“As a business, we approach risk assessment, risk mitigation and delivering risk transfer solutions to our clients differently. We challenge all of our business leaders to design solutions around direct engagement with business partners,” he said. John Burkhart, President of Special Lines. “Jim and his team listened to our business partners and have done a great job leveraging their relationships and skills to address a widening capability gap in the tech industry.”

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Skyward Specialty’s E&O Liability technology will be market-ready from the start Saturday, October 1, 2022and it will be offered on a non-admitted basis for both primary and excess protection.

About the Skyward Honor

Skyward Specialty is a rapidly growing specialty insurance company, offering non-admitted and admitted commercial property and casualty products and solutions. The Company operates through eight underwriting divisions: Accident & Health, Captives, Global Property, Industrial Solutions, Professional Lines, Programs, Surety and Transactional E&S.

Skyward Specialty subsidiary insurance companies consist of Houston Specialty Insurance Company, Imperium insurance company, Great Midwest Insurance CompanyY Oklahoma Specialty Insurance Company. These insurance companies are rated A- (Excellent) by I am the best company. To learn more about Skyward Specialty, its people and products, visit skywardinsurance.com.

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Haley DoughtyEmail: [email protected]

phone: 713-395-4944

Font: Skyward Specialty Insurance Group, Inc.

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