Algorithmic Insurance Services, Inc., a wholesale broker trading as LIRG, has provided $15 million in quota share (QS) reinsurance to New York-based managing general agent DLT Alert.
Reinsurance Support has launched a new suite of embedded parametric cyber warranty products for system providers of cyber security solutions. The first program will go live next week and will also cover DLT’s growing pipeline of warranty products distributed through international channels.
DLT Alert’s assurances are designed to strengthen the value proposition of cybersecurity companies by incorporating financial protections related to breaches by third-party vendors.
Payouts are triggered when a DLT Alert identifies a defined cyber incident affecting an approved technology provider used by the policyholder. For example, following a CrowdStrike outage in 2025, organizations using CrowdStrike and vendors that provide DLT Alert embedded protection may be eligible for compensation.
The reinsurance capability is led by Ocean Re through LIRG’s newly established binding authorization agreement and is supported by a group of additional risk takers. These include Ensuro, a Bermuda-based blockchain-enabled insurance investment platform focused on embedded insurance solutions.
“We support underwriters who are daring to do risk transfer differently and are at the forefront of change,” commented Nick Lamparelli, Chief Program Officer at LIRG. “DLT Alert is one of them. They have seen ways to improve cybersecurity and cyber risk transfer and are realizing their vision with an AI-driven, API-linked technology platform that can smoothly pay out losses within 24 hours of loss verification. Their parametric product is a revolutionary advancement in cyber risk transfer.”
Brian Waltermire, CEO of DLT Alert, added: “Our Cyra platform uses proven, real-time cybersecurity telemetry as the triggering mechanism for network warranty coverage that is more precise, observable and controllable than traditional cyber insurance. DLT Alert creates better outcomes for our end customers because the more network services they use, the better coverage they can get. It’s a living insurance policy.”
“This is exactly the kind of innovation I founded LIRG to support,” said LIRG CEO Mark Groenheide. “Brian and his team at DLT Alert use parametric structures to close the coverage gap and help businesses operate more smoothly in a technology-driven world. Old-fashioned insurance worked well for covering sunken ships and burned factories, but as technology permeates every level of the business relationship, new risks emerge that traditional insurance simply cannot handle. At LIRG, we ensure insurance keeps pace with technological change.”
The post LIRG Provides QS Reinsurance for DLT Alert’s Embedded Parametric Network Warranty Launch appeared first on ReinsuranceNe.ws.
