Lloyd's insurer Barbican, which operates syndicate 1955, has established a new technology errors & omissions consortium, underwriting business on a worldwide basis. The new facility will be led by Stuart Quinlan, deputy active underwriter of Syndicate 1955, and Geoff White, underwriting manager and head of Barbican's specialist eRisks division..
The other consortium members are Novae Syndicate 2007, Kiln Syndicate 510 and ANV Syndicate 1861.
Barbican said that the facility will be providing cover for "a broad spectrum of companies". These include software development; hardware manufacture; internet and application services providers; data hosting and data storage systems; telecom systems, and system and data integration providers.
Stuart Quinlan observed: "By establishing this facility as a consortium composed of a number of syndicates, all with experience in the technology sector, we are able to offer customers, and particularly larger technology firms, the line size necessary to attract such business into the Lloyd's market".