Cowbell launches professional indemnity and cyber cover for UK tech firms

Cowbell has launched ‘Prime One Tech’, a professional indemnity and cyber insurance policy aimed at UK tech firms with up to £1bn turnover. 

The product offers limits of up to £5m and combines professional indemnity with specialist technology cyber cover. 

It is enhanced by Cowbell Co-Pilot, a generative artificial intelligence (AI) tool designed to streamline underwriting and reduce contract review time by up to 40%.

Prime One Tech aims to address risks facing UK tech businesses, including professional indemnity, cyber crime, data loss, breach of contract, intellectual property infringement, subcontractors, cyber first and third party, media liability, mitigation costs, and unpaid invoices. 

The cover has no restrictions tied to business description.

Claud Bilbao, RVP, underwriting & distribution at Cowbell UK, said: “The UK has a robust technology sector that faces an increasingly complex array of both cyber threats and operational challenges. 

“These companies – whether software, hardware, communication, or technology service businesses – need more than just general PI insurance. 

“They need tailored, innovative solutions that keep pace with the industry’s rapid evolution.”

Bilbao added: “With Prime One Tech, we’re delivering exactly that: a comprehensive, adaptive solution covering risks like data breaches, software failures, cyber loss and liability, empowering technology companies to thrive with confidence.”

Policyholders will also have access to Cowbell’s in-house claims service and digital platform. 

Tools include Cowbell Factors, which scores cyber risk using data from 47 million businesses, and Cowbell Insights, which provides real-time advice and warnings on cybersecurity issues. 

The package also includes 12 months of cybersecurity training such as phishing simulations at no extra cost.

He said: “Looking ahead, our experienced team of underwriters are looking forward to deepening relationships with brokers who specialise in technology accounts and further developing our digital distribution capabilities to better serve the UK market.”