Willis Towers Watson launches innovative new cyber policies for clients
New policies’ wording provides clarity and flexibility for clients...
Willis Towers Watson has launched three new cyber insurance policies for clients across the U.S., Canada, the U.K. and Western Europe. The policies provide innovative, tailored solutions for large enterprise and mid-market clients, enabling them to fully assess, protect and recover losses related to cyber risk. The policies contain broad cyber triggers for data breach coverage, regulatory claims and business interruptions, as well as important protection for cyberattacks against the supply chain. Importantly, they also provide coverage clarity and affirmative cyber coverages to limit silent cyber exposures.
“As cyber risks continue to evolve for businesses across varied sizes and industry sectors, a risk transfer solution that provides clarity on coverage is paramount.”
Chairman, Global FINEX Cyber and Cyber Risk Solutions, Willis Towers Watson
"As cyber risks continue to evolve for businesses across varied sizes and industry sectors, a risk transfer solution that provides clarity on coverage is paramount," said Peter Foster, chairman, Global FINEX Cyber and Cyber Risk Solutions, Willis Towers Watson. "Many existing products on the market can be confusing and difficult to navigate. Our global cyber expertise and deep cyber analytics have enabled us to launch three new insurance products in three different regions, which provide a risk transfer solution that ensures clients have a greater understanding of the coverage purchased — through product clarity, flexibility, relevance and tailored solutions to fit their needs."
Willis Towers Watson's cyber team utilized its capabilities to develop these client-centered, insurance solutions to address the latest and most pressing cyber risk exposures. As such, the company brought together experts from their global cyber, property, casualty and claims teams, in conjunction with its proprietary analytical tools and extensive claims data, to identify key areas of exposure for clients and develop appropriate risk transfer solutions.