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Sarah Veysey

Barbican sets up technology errors and omissions consortium at Lloyd's

June 4, 2014 - 8:49am


London-based Barbican Group Holdings Ltd. said Wednesday that it has set up a consortium to underwrite technology errors and omissions business at Lloyd’s of London.

The consortium is made up of Barbican’s syndicate 1955, ANV Holdings B.V.’s syndicate 1861, Novae Group P.L.C.’s syndicate 2007 and Tokio Marine Kiln Group Ltd.’s syndicate 510.

The consortium will underwrite technology E&O business worldwide, Barbican said in a statement. The insurance will cover a range of buyers including software developers, hardware manufacturers, Internet and application service providers, data hosting and data storage companies, telecommunications systems, and system and data integration providers.

Stuart Quinlan, deputy active underwriter of syndicate 1955, and Geoff White, underwriting manager and head of Barbican’s eRisks division, are the lead underwriters for the facility.

“By establishing this facility as a consortium composed of a number of syndicates all with experience in the technology sector, we are able to offer customers, and particularly larger technology firms, the line size necessary to attract such business into the Lloyd’s market,” Mr. Quinlan said in the statement.

 



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