Cyber insurer Resilience hires Liberty financial lines head
Liberty Specialty’s head of financial lines for Bermuda, Dan Rance, has joined cyber risk solutions company Resilience. Rance will head the Bermuda office and global head of large accounts as the business seeks to expand from the mid-market.
In the last year, the firm says it has seen loss ratios less than half the industry average, record growth doubling 2021 business, and expansion of underwriting authorities to serve enterprises up to $7.5 billion in revenue.
“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.”
Rance has over 14 years of experience in the Bermuda market. Before Liberty, he was an underwriter with Iron-Starr Excess Agency and a catastrophe risk modeller with Ironshore Insurance.
Resilience was founded in 2016 by US military veterans and offers policies with integrated cybersecurity solutions.
“There is a huge opportunity to shift how insurance is connected with how cyber risk is managed,” said Rance. “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.”
