Cowbell statement on recent industry events

“In contrast to reports out today, we are providing clarification that Cowbell Specialty Insurance Company (“CSIC”) policyholder funds were never at risk. The vast majority of CSIC’s assets are invested in money market funds and short-term U.S. bonds which are not held at SVB and weren’t prior to the events of last week. While Cowbell Cyber has used SVB as its operating bank partner since inception, our contractual exposure to deposits at SVB was limited at the time of FDIC’s intervention, and we had access to alternative sources of liquidity. Cowbell has alternative banking relationships and expects no disruptions for policyholders, brokers, agents, and other partners.”