Specialty re/insurer Chaucer Group has introduced Vanguard, a new cyber risk management and insurance solution aimed at helping organizations address changing cyber threats.
The product is positioned as a primary business policy and is available to complex businesses across various industries, with coverage limits of up to US$15 million for cyber liability and US$30 million for cyber property damage.
The launch of Vanguard marks a further development in Chaucer’s cyber underwriting strategy. The company said the policy is intended to support businesses as they navigate increasingly sophisticated cyber risks.
“As the cyber threat to companies continues to evolve and become increasingly complex, so does the need for appropriate and flexible risk transfer solutions,” said Piers Tuggey (pictured above), head of cyber at Chaucer.
Tuggey noted that the policy supports Chaucer’s focus on primary business globally, with backing from its new Dubai team and other international offices.
Vanguard is accompanied by access to a panel of partner services, which work alongside the insurance product. These services, delivered in collaboration with providers such as Bitsight, BreachBits, CrowdStrike, DeNexus, Kennedys, and Orpheus, include proactive defense, rapid response, and strategic recovery capabilities.
J. Foster Davis, COO at BreachBits, said that the offering is focused on industrial and infrastructure sectors with Lloyd’s global reach.
In addition to its cyber initiatives, Chaucer has recently strengthened its international property division with several key hires, bringing in experienced underwriters to support its global property portfolio.
Chaucer has also expanded its specialty re/insurance offerings through a partnership with Armilla AI, launching an artificial intelligence (AI) liability insurance product. This new product is designed to address the risks associated with the deployment of AI technologies, offering coverage for organizations developing or using AI systems. The focus is on potential liabilities arising from AI-related incidents.
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