Resilience partners with Accredited to expand capacity of cyber risk solutions

Cyber risk solutions firm Resilience has expanded its capacity to provide cyber risk solutions to large enterprise accounts with revenue of more than $10 billion through a partnership with Accredited Insurance Holdings, a global programme manager.

The expanded underwriting aims to address clients’ complex cyber risks.

Resilience’s clientele comprises over 10% of American enterprises generating $1 billion or more in revenue.

The expansion follows a market trend of enterprises struggling to address rising rates of cybercrime and ecosystem risk from third-party business interruption.

According to the Resilience 2024 Cyber Risk Report, third-party-related claims accounted for 31% of all claims and 23% of material losses. In this, ransomware remained a top cause of loss in 2024, with 43% of incurred claims involving first-party ransomware incidents.

In 2024, ransomware targeting saw an emergence, becoming a new and significant source of business interruption, contributing to 18% of incurred claims. Combined with traditional and persistent threats from fraud and data breaches, clients must protect themselves against increasing risks of greater complexity to prevent losses.

Resilience aims to address these issues through sustainable and mature underwriting, in-house claims handling, and a risk operations center for continuous evaluation of a client’s first- and third-party risk, including ongoing threat intelligence and timely critical findings to prevent losses.

The firm also has a cyber decision platform to provide clients with tools to quantify, communicate, and manage first- and third-party cyber risk.

George Kotsiopoulos, President of Insurance at Resilience, commented, “The future of cyber insurance is to deliver integrated security and insurance solutions that help clients prevent losses, not just react to them. 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.”

Mario Vitale, President of Resilience, added, “Today’s enterprises are facing a constantly changing threat landscape that traditional insurance solutions cannot help them address because they focus on portfolio performance over client success. Resilience pioneered an integrated approach to risk management that augments clients’ visibility and responsiveness to threats.”

“Whether we are a primary or excess cyber insurance partner, our underwriting, continuous risk intelligence, and senior in-house claims handling helps clients prevent material losses. Our adoption within enterprise clients has accelerated as clients have realized that from risk modeling to incident management, Resilience has delivered better results than any other provider on the market.”

“Resilience has a proven track record of delivering tremendous value to clients while preserving the financial strength of their portfolio. Resilience is changing the future of cyber by offering high-performing, sustainable cyber risk solutions,” added William Spiegel, Chief Executive Officer, Accredited.

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