WTW launches new cyber facility

WTW has launched a new excess layer cyber facility.

CyXS provides up to GBP50m of excess layer capacity through Lloyd’s A-rated insurers, with two lo lead insurers responsible for streamlining the underwriting process.

Bespoke excess layer wording, including proprietary excess attachment provision, aims to provide greater clarity and claims certainty where differences in terms and conditions exist within a programme. And its CyXS Restore function provides the option to purchase a reinstatement of limit for primary layer coverage at a pre-agreed additional premium percentage.

Glyn Thoms, head of GB finex, cyber and TMT, WTW, said “Our most recent Directors Liability Survey, in partnership with Clyde and Co, highlighted that cyber risks continue to be a top priority for organisations across the globe. For the last 12 to 18 months, the ransomware crisis has made obtaining cyber insurance capacity very difficult yet demand from companies has continued to grow.

“As we emerge into a more stable market, CyXS helps us continue to support our clients with accessing significant capacity in an efficient way and further adds to our broad suite of innovative cyber solutions.”

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