Digital Risks achieves Lloyd’s coverholder status

Digital-Risks-secures-Lloyd's-coverholder-status

Beazley backed provider can now offer a wider range of specialist cover

Digital Risks, the digital-first insurance provider for fast-growth technology and media businesses, has achieved Lloyd’s coverholder status, following an application sponsored by Beazley, an investor and partner in the business. The new status enables Digital Risks to cover more specialist risks and insure UK businesses that trade internationally.

Founded in 2015, Digital Risks has developed an entirely online broker experience and a range of products focused on emerging risks. All its policies are sold via a subscription model, so clients pay monthly and can cancel their cover at any time, offering greater flexibility and accessibility to digital-first, fast-growth businesses. Its existing products are backed by the underwriters, Aviva and Tokio Marine HCC.

Cameron Shearer, CEO at Digital Risks, commented: “Becoming a Lloyd’s coverholder is a huge milestone for the business. We can now diversify our offering to provide greater cover for the emerging risks faced by fast-growth digital SMEs, while better supporting the growing number of UK businesses with international exposures. This status allows us to work even more closely with Beazley and The London Market on new innovations, including developing offerings for international markets in the near future. With their support, we look forward to announcing a range of new policies throughout 2019.”