Willis Towers Watson has put together a $600 million stand-alone cyber insurance tower—likely the largest of its kind in history.
Peter Foster, executive vice president with the FINEX Cyber practice, said the tower includes 60 policies from 40 underwriters, which means about half of the available cyber insurance carriers in the marketplace participated.
“This indicates the kind of demand there is for cyber insurance, driven by the need to satisfy regulators and corporate boards,” Foster said. “With new carriers coming in, as well as those who have been in the marketplace, more limits are available. Cyber is a growth area.”
Chad Hemenway, Willis Towers Watson uses 40 underwriters to build $600 million cyber insurance tower (April 24, 2017), available with subscription at Advisen Cyber Front Page News.
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