Specialty insurer Beazley has unveiled Beazley Quantum, which will provide cover for large corporations with a turnover in excess of US$1 billion, infusing US$100 million of new capacity into the cyber market.
The consortium is led by Beazley’s cyber underwriting and claims handling teams, and is available on the Global Wholesale platform via Lloyd’s.
Paul Bantick, chief underwriting officer at Beazley, says: “We have steadfastly taken strategic steps to build a thriving and sustainable cyber insurance market.
“With the launch of Beazley Quantum, we are directly addressing the needs of large corporates and delivering much needed additional capacity to these businesses that are in the front line of the cyber threat.”
