Marsh has launched a new cyber insurance facility aimed at mid-sized organisations in Europe as the threat landscape continues to intensify. The facility, named Cyber Unity, will provide up to €5 million in primary cyber insurance capacity for businesses with annual revenues of up to €500 million. It is available to companies across the European Union, as well as in Israel, Norway, Serbia and Turkey. Backed by a panel of six A-rated global cyber insurers, Cyber Unity also allows clients to access additional capacity through the same panel or via Marsh’s broader suite of cyber facilities. The company says the new offering is designed to remove key barriers that mid-sized firms face in securing adequate cyber coverage and to close critical insurance and cybersecurity protection gaps. Cyber Unity includes a streamlined placement process and uses Marsh’s proprietary cyber policy wording, which covers a wider range of risks than typical market offerings. It also features exclusive coverage extensions to provide greater flexibility for clients. Included in the facility are incident response services with access to a cyber incident management platform that ensures business continuity in the event of a breach. The facility further incorporates a pre-agreed claims management process and a full suite of risk management and loss prevention tools. Gamze Konyar, head of cyber for Europe at Marsh, says the growing frequency and severity of cyber risks make it increasingly difficult for such companies to access suitable cover. “By making cyber insurance more accessible, understandable, and affordable, Cyber Unity provides robust primary capacity for European organisations, while seamlessly uniting comprehensive coverage with essential risk prevention, claims and incident management services,” she adds.
