In the ever-evolving digital landscape, small and medium-sized enterprises (SMEs) grapple with significant cyber risks. Recognizing the pressing need to safeguard businesses from cyber threats, WTW, a leading global advisory, broking, and solutions company, has strategically partnered with leading cyber insurance carriers serving SMEs in North America.
This innovative cyber solution caters to businesses with annual revenues under $50 million, encompassing start-ups and pre-revenue accounts. SMEs are historically disadvantaged in traditional underwriting processes, favoring larger enterprises. Now, they can access coverage through WTW’s strategic partnerships with leading cyber insurance carriers.
A critical aspect of this initiative is providing quick and easy access to competitive insurance quotes through self-service quoting platforms. WTW has also taken the proactive step of assigning dedicated underwriting staff to focus specifically on the needs of SMEs. Moreover, the comprehensive offering includes policyholder resources such as tools and support to implement and maintain robust cybersecurity measures.
Jessica Klipphahn, NA Head of MM Cyber/E&O at WTW, emphasizes the transformative nature of this effort. “Through strategic partnerships with top-tier cyber insurance carriers and the delivery of resources, we assure SMEs access to affordable and comprehensive coverage. This initiative not only resolves concerns previously facing SMEs but also positions cybersecurity as an integral and manageable component of their business strategy and enterprise risk management,” said Klipphahn.
Klipphahn asserts that this initiative resolves previous concerns faced by SMEs. She added it also positions cybersecurity as an integral and manageable component of their business strategy and risk management. This move signifies a commitment to empowering SMEs and reshaping their approach to cybersecurity, reinforcing its importance in the overall business strategy.
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