WTW launches new cyber facility for international clients

WTW launches new cyber facility for international clients | Insurance Business Canada

Cyber

WTW launches new cyber facility for international clients

Offering to provide extensive cyber coverage for established and emerging threats

Cyber

By
Terry Gangcuangco

WTW has launched a new primary cyber and tech E&O (errors and omissions) facility for clients headquartered outside of Great Britain and the US.

Called “International CyCore Facility” (ICF), the tailored solution spans legal advice, IT forensics, data and cyber restoration, crisis communication, and business interruption cover for international clients with revenues up to US$1 billion or currency equivalent.

Benefits include increased limits (as much as US$20 million in primary coverage with a single lead insurer), WTW proprietary wording, worldwide cover, and shared risk strength through the backing of specialized Lloyd’s syndicates.

“Our annual D&O (directors and officers) surveys consistently see cyber risk as a significant concern,” WTW wholesale cyber head Adrian Ruiz said in a release.

“The increased investment in AI (artificial intelligence) is also causing emerging cyber risks, so it’s essential that we develop solutions which can meet the needs of clients in different territories.

“The evolving cyber risk environment creates a need for a clear, flexible, and relevant solution which can be tailored to our client needs. The ICF offers our international clients access to extensive cyber coverage for both established and emerging cyber threats.”

What do you think about this story? Share your thoughts in the comments below.