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Cyber analysis company Arceo.ai has relaunched as Resilience Cyber Insurance Solutions and will offer insurance coverage as a program manager supported by Intact Insurance Specialty Solutions.
San Francisco-based Resilience will offer cyber consulting, breach response and other services, and cyber liability capacity of up to $10 million in limits, said Mario Vitale, president of Resilience.
Toronto-based Intact Financial Corp. bought OneBeacon Specialty Group Ltd. in 2017 and rebranded it as Intact Insurance Specialty last month.
The program manager will work with between 25 and 30 brokers to offer primary and excess coverage to organizations with between $100 million and $5 billion in annual revenue initially on a nonadmitted basis, he said.
The company has hired staff “in the cybersecurity area, the data science area, the underwriting area, and the claims handling area,” Mr. Vitale said. “You are going to be dealing with the same people to help you solve a breach and to settle a claim.”
Vishaal Hariprasad, who cofounded Arceo.ai in 2018, is CEO of Resilience and fellow cofounder Raj Shah is chairman.
Emy Donavan, who joined Arceo.ai last year, is chief underwriting officer of Resilience.
Mr. Vitale, a longtime insurance executive, previously was CEO of Aspen Insurance, a unit of Bermuda-based Aspen Insurance Holdings Ltd., before retiring in 2016. He joined Arceo.ai in 2019.
Intact will become an investor in Resilience, Mr. Vitale said. The company is also backed by several private equity investors.