Marsh Unveils CyberShore Bermuda Cyber Insurance Facility
Marsh has launched CyberShore Bermuda, a new cyber insurance facility offering $30 million in excess Bermuda capacity. The facility targets coverage layers above $75 million. It provides follow-form excess coverage that aligns with existing cyber insurance programs.
Claims Enhancement Streamlines Process
A standout feature is the claims enhancement. The lead insurer manages claims directly, aiming to reduce negotiation time and streamline the process.
Fines Coverage Option
Clients may also buy affirmative coverage for regulatory fines and penalties. Sarah Carr, Financial and Professional (FINPRO) and Cyber Placement Leader at Bowring Marsh Bermuda, said, “CyberShore Bermuda represents a pioneering solution in the Bermuda cyber market. It delivers enhanced efficiency in capacity, coverage, and claims management.”
The facility follows Marsh’s earlier launch of Cyber Echo Encore, which offers $45 million in excess capacity from London-based insurers.
Higher Cyber Limits
Meredith Schnur, US and Canada Cyber Practice Leader at Marsh, said, “Marsh is committed to bringing new capacity and optionality to its clients. CyberShore Bermuda supports our efforts to address evolving cyber risks.”
Marsh says the new offering responds to increased demand for higher cyber limits and improved claims experiences.
CyberShore Bermuda is available exclusively to Marsh clients and administered through Bowring Marsh Bermuda.
Other News: Bermuda’s Cyber Insurance Market Growth Amid Rising Cyber Risks – Report(Opens in a new browser tab)
