Euclid launches cyber MGA

Euclid Program Managers on Tuesday launched Euclid Cyber LLC, a managing general agent offering excess cyber liability coverage to businesses with more than $1 billion in annual revenue.

Euclid Cyber, which offers limits up to $5 million, will write on behalf of Spinnaker Insurance Co., a Bedminster, New Jersey-based insurer specializing in program business that was bought by insurtech Hippo Holdings Inc. in 2020.

The MGA is headed by New York-based Annamaria Landaverde and Colette Fearon as co-managing principals. Ms. Landaverde previously was senior vice president and cyber practice leader at Munich Reinsurance America Inc., and Ms. Fearon was a cyber underwriter at the reinsurer.