Bermudian-based Vantage Group Holdings Ltd has announced that it is underwriting US primary cyber insurance through its US insurance subsidiaries, offering up to $10 million in capacity.

Vantage said the new cyber coverage further accelerates the company's sustained portfolio growth and extends its US and Bermuda insurance capabilities for its brokers and clients.

Driven by market demand and increasingly complex cyber risks, Vantage introduced excess cyber insurance capabilities in the US and Bermuda in 2022.

Vantage's new US primary offering is designed to protect a wide range of industries with a focus on the technology industry sector.

The company said the primary offering brings specialised claims expertise and attack response services in addition to a deep understanding of E&O exposures and how best to structure solutions in an evolving risk environment.

Coverage is for both first and third-party costs, including technology E&O, media, network security, and privacy liability, data breach notifications and credit monitoring, forensics and investigations, business interruption, data recovery and repair, regulatory fines and penalties, and extortion threats.

Vantage said it partners with leading specialists to offer incident response services that help insureds mitigate risk and rapidly recover from an event, including call centre monitoring, forensic accounting, forensic incident response, public relations and more.

"Cyber risk is rapidly evolving and demands stable, long-term partnerships for effective risk management," said Juliet White, head of Cyber and Professions Errors & Omissions.

"Our team of experts is ready to meet the opportunity head-on. We're excited to extend our capabilities into primary cyber and provide the protection that our clients need to grow their businesses."