WTW, a world advisory, broking and options firm, has launched a brand new cyber insurance coverage answer tailor-made for SMEs in North America.
The providing goals to deal with the distinctive cyber dangers confronted by companies with annual revenues beneath $50m, together with start-ups and pre-revenue accounts.
WTW stated the launch of its tailor-made cyber answer comes as a strategic transfer to fill the hole available in the market, the place SMEs have struggled to safe reasonably priced and apt cyber cowl.
The corporate partnered with undisclosed cyber insurance coverage carriers to make sure that the particular wants of SMEs are met.
This collaboration is alleged to have resulted in an answer that gives SMEs with quick entry to aggressive insurance coverage quotes by way of self-service quoting platforms.
WTW MM Cyber/E&O NA head Jessica Klipphahn stated: “This second signifies a transformative effort, devoted to addressing the distinctive challenges SMEs face within the realm of cybersecurity.
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“By strategic partnerships with top-tier cyber insurance coverage carriers and the supply of sources, we guarantee SMEs entry to reasonably priced and complete protection. This initiative not solely resolves considerations beforehand going through SMEs but additionally positions cybersecurity as an integral and manageable element of their enterprise technique and enterprise threat administration.”
The corporate’s tailor-made cyber insurance coverage answer additionally extends past protection, providing policyholder sources to assist SMEs in implementing and sustaining robust cybersecurity measures.