Specialty underwriting management company Y-Risk has announced that it has been approved as a Lloyd’s coverholder to offer cyber and technology E&O insurance.

Coinciding with the approval, Y-Risk is launching its new Y-ProTech insurance policies. The products provide coverage against first and third party cyber losses and technology E&O liability exposures, and will be offered to small and medium businesses of all types.

A release said that the new product was specially designed to be malleable and adaptable to suit the needs of even the most niche businesses. Already, Y-Risk has announced its first specialty offering, called “Y-ProTech for Marketplaces,” which the company calls “the only cyber and E&O policy in the industry exclusively focused on companies in the sharing and on-demand economies.”

“We believe traditional insurance products are not well suited for many of the companies, risks, and technologies shaping tomorrow’s economy. With Y-ProTech, we can craft tailored insurance solutions for a variety of niches, like the sharing economy,” said Y-Risk director of cyber and technology Wendy Dowd.

“We are excited to enter our company’s third year with an expanded portfolio of solutions to protect and enable innovative companies,” added Y-Risk founder and CEO Bernie Horovitz.