WTW launches cyber cover for international buyers

WTW has announced new primary cyber and tech E&O cover, underwritten by Lloyd’s syndicates, for businesses headquartered outside Great Britain and the US.

WTW’s International CyCore Facility (ICF) is aimed at businesses with revenues of up to $1bn to cover both malicious and non-malicious acts, as well as technical failures. It offers international clients cover for cyber incident response costs, from legal advice and IT forensics to crisis communication costs and business interruption losses.

The policy covers clients for losses of up to $20m with a single lead insurer for businesses with operations worldwide, but excludes US-headquartered operations and companies with headquarters in England, Scotland and Wales.

Adrian Ruiz, head of wholesale cyber at WTW, said its analysis of the D&O market highlights concern about cyber risk, which is increasing with new threats.

“The increased investment in AI is also causing emerging cyber risks so it’s essential that we develop solutions that can meet the needs of clients in different territories,” Ruiz said.

“The evolving cyber risk environment creates a need for a clear, flexible and relevant solution that 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,” he added.