Cowbell launches Prime One Tech
Cowbell, which provides cyber insurance for small and medium-sized enterprises (SMEs) and middle-market businesses, has announced the UK launch of Prime One Tech; professional indemnity and cyber coverage for technology companies with up to £1 billion in annual turnover, providing limits of up to £5 million.
According to Cowbell Prime One Tech combines its flagship Prime One cyber programme with specialised PI technology coverage. It is enhanced by Cowbell Co-Pilot, a Generative AI-powered tool that streamlines underwriting workflows, reducing contract review time by up to 40%.
The company said that the UK has the third-largest technology ecosystem globally, valued at a landmark £902 billion this year, and leads Europe in tech market valuation and investment. However, the UK’s cyberspace has also seen hostile activity rise in frequency, sophistication, and intensity recently; up 16% in 2024 compared to the previous year.
Prime One Tech is designed to meet the specific needs of this segment as well as demands from the broker community to provide tailored solutions that address the broader risks faced by technology businesses. Additionally, Cowbell said that it offers robust in-house claims capabilities, ensuring fast, expert-driven response and support tailored to the unique needs of policyholders in the UK.
Key features include: coverage for professional indemnity, cyber crime, loss of data or documents, breach of contract, intellectual property infringement, subcontractors, cyber first and third party, media liability, mitigation costs, and unpaid invoices.
With no exclusions for guarantees, consequential damages, or breach of warranties and no restrictions tied to business descriptions, it offers unparalleled flexibility and robust risk transfer.
Marking the company’s first move beyond standalone cyber insurance in the UK, Claud Bilbao, RVP, Underwriting & Distribution at Cowbell UK, said: “The UK has a robust technology sector that faces an increasingly complex array of both cyber threats and operational challenges. These companies - whether software, hardware, communication, or technology service businesses - need more than just general PI insurance. They need tailored, innovative solutions that keep pace with the industry’s rapid evolution. With Prime One Tech, we’re delivering exactly that: a comprehensive, adaptive solution covering risks like data breaches, software failures, cyber loss and liability, empowering technology companies to thrive with confidence.”
A spokesperson for Cowbell told Captive International that Cowbell’s launch of Prime One Tech in the UK aligns with trends in the captive insurance market, particularly for large tech firms seeking tailored, blended coverage for complex risks like cyber incidents and professional indemnity. The product’s AI-driven underwriting, in-house claims expertise, and flexible risk transfer options make it an attractive complement or fronting solution for firms with captives.
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