Trium Cyber, Lloyd’s Syndicate 1322

Trium Cyber has announced its US-based service company has begun to provide cyber and technology errors & omissions coverage for US-domiciled risks.

Writing on behalf of Lloyd’s Syndicate 1322, the company is backed by Pelican Ventures and third-party capital providers like Asta, the leading third-party managing agent at Lloyd’s.

In November 2022 it received final approval from Lloyd’s of London to commence underwriting businesses on or after January 1, 2023. It also announced its plans to underwrite $50 million of gross premiums in the cyber market for this year.

Trium Cyber is the industry’s first Lloyd’s-approved company providing mono-line cyber coverage for US risks. Trium Cyber will also provide clients access to complimentary cyber risk management and real-time loss mitigation services.

The Lloyd’s-backed syndicate has not only entered the US cyber market with fresh capital but with an “industry-leading” team.

Josh Ladeau, CEO Trium Cyber, is former Aspen global head of cyber. Jeff Bores, also formerly of Aspen, joins Ladeau as Trium’s Chief Underwriting Officer.

In addition to more than a decade of underwriting experience, both have earned highly coveted Certified Information Systems Security Professional (CISSP) designations, representative of differentiated technical insight.

Lloyd’s third-party managing agent Asta has announced in November 2022 that new syndicate Trium Cyber Syndicate 1322 has received final approval from Lloyd’s of London. This means that the syndicate will begin underwriting business on 1 January 2023.

All business will be exclusively written through a binding authority with Trium’s US-domiciled services company, Trium Cyber US Services, but the syndicate will operate in the UK from Lloyd’s of London.

by Yana Keller