Marsh Unveils CyberShore Bermuda for Enhanced Cyber Insurance
Marsh, a prominent insurance broker and risk advisor under the umbrella of Marsh McLennan, has announced the launch of CyberShore Bermuda, a groundbreaking excess cyber insurance facility. This initiative is crafted exclusively to offer Marsh clients enhanced protection along with a more efficient experience.
CyberShore Bermuda provides up to $30 million in follow-form excess Bermuda coverage, starting from a threshold of $75 million. A standout feature of this facility is a unique claims enhancement, empowering the lead insurer to manage claims directly. This approach significantly reduces negotiation time, ensuring a faster and more uniform response.
Additionally, clients have the opportunity to purchase affirmative coverage for fines and penalties, thereby expanding their coverage options even further.
Sarah Carr, Financial and Professional (FINPRO) and Cyber Placement Leader at Bowring Marsh Bermuda, remarked: “CyberShore Bermuda represents a pioneering solution in the Bermuda cyber market. It further underscores Marsh’s capability to deliver innovative products that guarantee optimal terms for clients, while improving efficiency in capacity, coverage, and claims management.”
Meredith Schnur, US and Canada Cyber Practice Leader at Marsh, commented: “Marsh is dedicated to providing new capacity and optionality to our clients, especially as they navigate the ever-changing landscape of cyber risks. The introduction of CyberShore Bermuda follows closely on the heels of Cyber Echo Encore, Marsh’s global cyber facility, which offers clients up to $45 million in excess cyber capacity from London market insurers outside of Lloyd’s.”
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