Chaucer-backed Cowbell expands to cover $1bn revenue US companies

Cowbell, a cyber insurer for small and medium-sized enterprises (SMEs) and middle-market businesses, is expanding its offering to underwrite US businesses with an annual revenue of up to $1bn.

With capacity provided by Chaucer Group, US corporates will now be able to benefit from $5M primary and excess limits on Cowbell’s Prime 250 cyber and Prime Tech E&O products. 

Customers will also have access to Cowbell 365, which offers on-demand risk management services, and Cowbell Academy, an e-learning center for brokers.

Cowbell said its decision to expand into the middle market is a direct response to the growing cyber risk landscape for businesses of this size.

Piers Tuggey, head of cyber at Chaucer, said: “America’s middle-market businesses are increasingly reliant on technology to deliver their services to customers. With the growing complexity of operations and the ever-changing cyber threat landscape, they’re also facing unprecedented exposure to cyber risks and for them, more traditional offerings may fall short. 

“Our partnership with Cowbell will help customers access the most suitable, and robust packages of tailored cybersecurity services.  This collaboration is about strengthening the cyber resilience for a segment of companies that provide a huge proportion of US private sector jobs and GDP.”

Trent Cooksley, co-founder and chief operating officer at Cowbell, said: “By leveraging our proven track record, vast risk pool and innovative technology Cowbell will be able to strengthen the cyber resilience​​ of not only SMEs, but also businesses with greater complexities and larger operations.”