Marsh, an insurance broker and risk advisor within Marsh McLennan, has launched Cyber Unity, a new insurance facility for organisations with revenues up to €500 million across the European Union, as well as Israel, Norway, Serbia, and Turkey.
In a recent report, Marsh highlighted the urgent need for innovative solutions to address the insurance and protection gaps many mid-sized organisations face. With a significant number of these businesses remaining uninsured or underinsured, Cyber Unity aims to bridge these gaps and enhance operational resilience.
Backed by a competing panel of six A-rated global cyber insurers, Cyber Unity offers primary capacity limits up to €5 million, with access to additional capacity from the panel or through Marsh’s suite of cyber insurance facilities.
The facility removes significant barriers mid-sized corporates often encounter when securing cyber insurance and closing critical coverage and cybersecurity gaps.
Cyber Unity features a streamlined placement process and is supported by Marsh’s proprietary cyber policy wording, which covers a broad range of risks and includes exclusive coverage extensions, giving clients greater flexibility.
<!–
–>
Additionally, Cyber Unity provides robust cyber incident response services, including access to an incident management platform to ensure continuity when primary communication or operational systems are compromised.
The facility also includes a pre-negotiated claims management process and comprehensive risk management and loss prevention services, strengthening organisations’ ability to prevent and manage cyber threats.
Gamze Konyar, Head of Cyber, Europe at Marsh, said, “Many organisations, particularly mid-sized enterprises, face significant challenges in obtaining adequate cyber insurance. As cyber risks continue to escalate in frequency and severity, these challenges become even more pronounced. By making cyber insurance more accessible, understandable, and affordable, Cyber Unity provides robust primary capacity for European organizations, while seamlessly uniting comprehensive coverage with essential risk prevention, claims and incident management services.”
The post Marsh launches cyber insurance facility for mid-sized organisations appeared first on ReinsuranceNe.ws.