Official launch of Euclid Cyber, LLC (“Euclid Cyber”), a women-owned and operated Managing General Agent (MGA) focused on delivering comprehensive excess cyber insurance to U.S. businesses with greater than $1B in revenues. Effective immediately, Euclid Cyber will be writing on behalf of Spinnaker Insurance Company, whose issuing company, Spinnaker Specialty Insurance Company is rated A- (Excellent) by A.M. Best, Financial Size Category VIII.
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Annamaria Landaverde and Colette Fearon are Co-Managing Principals of Euclid Cyber. Each with over twenty years of experience in the insurance and reinsurance fields, Annamaria and Colette are well-poised to foster long-term relationships, support the complex needs of large organizations and assist broker partners with the flexibility and speed of a nimble organization.
“To address the growing needs of the Cyber market, we believe this is the right time for Euclid Cyber to bring our experience to the market and support to these clients,” Colette Fearon, Managing Principal of Euclid Cyber
Euclid Cyber’s solutions protect businesses from the evolving risks associated with data breaches, cyber-attacks, and other online threats. When blended with Cyber coverage, the company also offers E&O insurance to help professionals and businesses mitigate the risks of negligence, errors, or omissions in their performance of technology, telecommunications and/ or miscellaneous professional services.
“The current Cyber insurance market is estimated to be around $16B and is equipped to grow as threats evolve. To address the growing needs of the Cyber market, we believe this is the right time for Euclid Cyber to bring our experience to the market and support to these clients,” said Colette Fearon, Managing Principal of Euclid Cyber.
“Companies have become almost wholly dependent on technology and third-party service providers to conduct their business,” said Annamaria Landaverde, Managing Principal of Euclid Cyber. “Coupled with the rapidly evolving threat landscape and the potential for large scale events, the operational and financial risk to these organizations is more costly and complex than ever. With over 40 years of combined experience, we bring unique perspectives on offering comprehensive, yet sustainable, cyber and E&O coverage.”
“We are excited to be working with the Spinnaker Specialty team on this program,” said Colette Fearon, Managing Principal of Euclid Cyber. “With the backing of Spinnaker’s capital and experience of its claims and underwriting teams, we look forward to supporting the Cyber industry and our broker partners for their insurance needs.”
“Spinnaker Insurance is proud to support Euclid Cyber’s innovative approach to cyber risk, reinforcing our commitment to delivering tailored insurance solutions in a rapidly evolving digital landscape,” said Spinnaker CEO Torben Ostergaard. “Partnering with best-in-class underwriters like Annamaria and Colette exemplifies our dedication to excellence and innovation in the industry.”
“Euclid is thrilled to partner with Annamaria and Colette. Their expertise and vision align perfectly with Euclid’s values and goals,” commented John Colis, President and CEO of Euclid Program Managers. “We are committed to wrap Euclid Cyber into our platform to allow them to focus on their underwriting craft. Together, we will achieve new heights and create exceptional value for our clients”
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Source – prweb
