The new partnership launches Cowbell Prime Tech, including Tech E&O coverage, and expands Cowbell’s Prime 250 program for businesses with revenue of up to $500M
Cowbell, a leading provider of cyber insurance for small and medium-sized enterprises (SMEs), and Skyward Specialty Insurance Group Inc.™ (NASDAQ: SKWD) (“Skyward Specialty”), a leader in the specialty property and casualty market, today announced a partnership agreement that expands Cowbell’s coverage and capacity of its Prime 250 Cyber Liability and Prime Tech, a recently introduced insurance program that safeguards businesses generating revenue of up to $500 million against cyber and technology errors and omissions (E&O) risks. The alliance leverages Skyward Specialty’s expertise in bringing inventive insurance offerings to underserved markets that directly address growing risks unique to those businesses. Additionally, the partnership provides Cowbell access to Skyward Specialty’s key industry partners to strengthen its capacity to deliver comprehensive coverage to meet evolving market needs.
“Partnering with Cowbell is another bold step in our strategy to lead in our chosen markets,” said Andrew Robinson, Skyward Specialty CEO. “We have spent over a year getting to know Cowbell, their leadership and team, and have been impressed by the underwriting precision they achieve, and their unique approach to continuous cyber risk assessment. This partnership is a powerful combination of two great companies.”
“We continuously monitored 95% of U.S. SMEs’ cyber risks for the last four years and have found that there’s a massive gap in cyber protection that is overlooked for this vastly underserved market. The insurability gap for these businesses is championed through this exciting new partnership with Skyward Specialty,” said Jack Kudale, Founder and CEO of Cowbell. “This partnership leverages the expertise of the deeply experienced leaders and team members at Skyward Specialty, some of whom were part of helping to create the cyber insurance marketplace over 20 years ago.”
The partnership will aid in expanding Cowbell’s omnichannel distribution network, which currently comprises over 23,000 appointed agents and 3,500 agencies across all retail, wholesale, and embedded channels. The collaboration expands Cowbell’s reach to a broader range of businesses and provides technology companies with E&O coverage. Consequently, Cowbell’s growing portfolio will now serve a significant portion of underserved small and medium-sized enterprises seeking financial security against cyberattacks.
Cowbell’s appointed broker partners will now have access to Primary and Excess Cyber coverage for accounts up to $500 million in revenue. Agency partners seeking Excess Cyber and Tech E&O coverage for their clients can contact their Territory Sales Manager or reach Cowbell at agencies@cowbellcyber.ai. For more information or to get appointed, visit Cowbell.insure.
Visit AITechPark for cutting-edge Tech Trends around AI, ML, Cybersecurity, along with AITech News, and timely updates from industry professionals!
