Dan Rance has been named head of Resilience Bermuda and global head of large accounts to help accelerate delivery of the Cyber Resilience solution for large enterprise customers.

Resilience is the next-generation cyber risk solutions company, helping middle-to-large market enterprises connect their cyber insurance coverage with advanced cybersecurity visibility and actionable cyber hygiene.

With loss ratios less than half the industry average, record growth doubling 2021 business and expansion of underwriting authorities to serve enterprises of up to $7.5 billion in revenue, the Cyber Resilience approach has proven highly successful at helping mid-market companies manage their cyber risk holistically.

From his Bermuda office, Mr Rance will support the development and launch of this solution into the large enterprises account space.

He commented: "There is a huge opportunity to shift how insurance is connected with how cyber risk is managed.

"This will require more creative capacity solutions than exist in the market today.

“Bermuda has been a leader in innovation in the cyber insurance market and I am incredibly excited to join the Resilience team in leading their efforts to grow into the large enterprise space."

Mr Rance, whose certifications include CPCU, RPLU, ARM, and ARe, has more than 14 years of experience in the Bermuda market, most recently serving as Liberty Specialty's head of financial lines for Bermuda.

There, he grew a portfolio of excess liability business, serving a client base of Fortune 500 organisations.

His hiring will help Resilience secure capacity to support large enterprise clients who are seeking a more sophisticated risk transfer and mitigation solution than is available in either the security or insurance markets today, the company said.

The Resilience solution provides advanced cybersecurity visibility and actionable cyber hygiene recommendations connected to accountable risk transfer.

This holistic approach of leveraging insurance with technical cybersecurity visibility helps ensure that clients are resilient to extortion attempts and is supported by claims data showing that Resilience insureds are half as likely to need to pay ransomware extortions.

"Resilience was built to fit a critical need for sophisticated enterprises who require a continuous solution to simplifying and holistically managing their cyber risk," said Vishaal Hariprasad, Resilience CEO.

"After successfully launching this new model in the mid-market space, we are excited to bring on talented leaders like Dan who will help us secure the capacity to provide the insurance side of the equation to large enterprise customers."

"With our recent expansion of underwriting authorities extending to companies of $7.5 billion in revenue, Resilience is excited to further expand its model to larger enterprises," said Mario Vitale, president of Resilience Cyber Insurance Solutions.

"Dan has the proven track record as a leader in the Bermuda market to help us accelerate our growth into larger accounts and deliver on our vision of moving the entire market towards a Cyber Resilient approach."

Resilience said the strongest companies align their technological investments with financial understanding of the most critical risks to their enterprise. Their move into the large enterprise space is powered by early investments in scalable security integrations and risk assessment modelling technology that quantify and reduce risk in complex enterprise networks.