Product is tailor-made for companies with revenues beneath $50 million
World dealer WTW has introduced the launch of a cyber resolution designed to fulfill the wants of small and medium-sized enterprises in North America.
The product is tailor-made for companies with annual revenues beneath $50 million, together with startups and pre-revenue accounts.
Conventional underwriting processes typically favor bigger companies, WTW stated. This will depart SMEs weak to cyber breaches attributable to restricted entry to reasonably priced protection.
To treatment this example, WTW has partnered with main cyber insurance coverage carriers targeted on assembly the wants of SMEs. The dealer’s personalized resolution supplies small and medium-sized companies with easy entry to aggressive insurance coverage quotes by way of self-service platforms. WTW has additionally allotted a devoted underwriting workers to cater to the distinctive wants of SMEs.
The answer can even provide policyholder assets together with instruments and assist for SMEs to implement and keep cybersecurity measures.
“This second signifies a transformative effort, devoted to addressing the distinctive challenges SMEs face within the realm of cybersecurity,” stated Jessica Klipphahn, NA head of MM cyber/E&O at WTW. “By strategic partnerships with top-tier cyber insurance coverage carriers and the supply of assets, we guarantee SMEs entry to reasonably priced and complete protection. This initiative not solely resolves considerations beforehand going through SMEs, but in addition positions cybersecurity as an integral and manageable part of their enterprise technique and enterprise threat administration.”
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