Cowbell has launched Prime One Tech, a combined professional indemnity (PI) and cyber insurance offering tailored for UK technology companies with up to £1 billion in annual turnover. The new product offers coverage limits of up to £5 million and marks Cowbell’s first move beyond standalone cyber insurance in the UK market. Prime One Tech integrates Cowbell’s Prime One cyber programme with dedicated PI coverage for technology firms, and includes support from Cowbell Co-Pilot, an AI-powered tool that reduces contract review times by up to 40 per cent. According to Cowbell, the launch responds to demand from UK brokers and the growing needs of the technology sector, which is valued at £902 billion and ranks third globally in size. Cyber threats in the UK increased 16 per cent in 2024 compared to the previous year, prompting insurers to expand solutions for businesses facing growing digital and operational risks. The policy includes coverage for cybercrime, data loss, breach of contract, IP infringement, subcontractors, unpaid invoices, and media liability, with no exclusions for guarantees or consequential damages. Claud Bilbao, underwriting and distribution at Cowbell UK, states: “These companies — whether software, hardware, communication, or technology service businesses — need tailored, innovative solutions that keep pace with the industry’s rapid evolution.” He adds: “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.”
