Marsh has introduced Cyber Echo Encore. This is an enhancement to its Cyber Echo insurance facility. The expansion provides up to $45 million in additional cyber insurance capacity. The cyber risk protection is underwritten by London market insurers outside of Lloyd’s.
Broader Coverage Beyond Lloyd’s Market
Lloyd’s launched Cyber Echo in 2016, making it the largest cyber insurance facility of its kind. It offers clients up to $125 million in cyber coverage. Since its inception, it has provided nearly $50 billion in cyber risk coverage to approximately 500 clients worldwide.
Cyber Echo Encore extends the facility beyond the Lloyd’s market while maintaining key features. The offered features include streamlined underwriting, simplified claims handling, and reinstating coverage within an underwriting year.
Growing Cyber Risk Drives Demand
As we have widely reported, cyber threats continue to rise. This increases the demand for standalone cyber risk protection insurance, a point touched on in the company press release announcing the news by Serena France-Hayhurst, UK Cyber Placement Leader at Marsh.
She stated of Cyber Echo Encore, “As cyber threats continue to grow, companies are looking for standalone cyber insurance that enables them to manage their evolving and sometimes complex risk profiles more effectively.”
