WTW (NASDAQ: WTW), a leading global advisory, broking, and solutions company, has launched an International CyCore Facility (ICF) aimed at international clients headquartered outside of GB and US.
The ICF is a tailored solution which covers malicious acts, non-malicious acts and technical failures. It provides cyber incident response costs including legal advice, IT forensics, data and cyber restoration as well as crisis communication costs and business interruption cover.
Other key benefits of ICF include:
- Increased Limits: Up to USD 20 million (Or CCY equivalent) in primary coverage with a single lead insurer which expedites the quoting process.
- Efficient Underwriting: Streamlined information requirements reduce the application time for clients.
- Worldwide Coverage: Utilising Lloyd’s extensive licensing, the ICF provides assured protection across borders (subject to sanction limitations) but excluding organisations headquartered in the US &GB.
- Shared Risk Strength: A panel of specialised Lloyd’s syndicates back the facility, offering shared risk capabilities and robust quota share arrangements.
- WTW Proprietary wording. The ICF utilises WTW proprietary wording to provide clarity for clients.
Adrian Ruiz, Head of Wholesale Cyber, WTW, said “Our annual D&O surveys consistently see cyber risk as a significant concern. The increased investment in AI 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.”