Marsh expands cyber facility to provide more excess insurance capacity

Marsh has announced that its cyber echo facility will now provide up to $125m (£99m) of excess insurance capacity.

The facility used to offer $100m (£80m) worth of excess cover, but the broker has decided to add an additional $25m (£20m) layer of capacity.

It is making the move after finding that cyber threats were continuing to grow.

In 2023, for example, the government estimated that there were 2.39m instances of cyber crime and 49,000 instances of cyber fraud affecting UK businesses.

“As the severity, frequency and financial impact of cyber threats continues to grow, organisations are seeking the broadest coverage options beyond what is available in the open market,” Serena France-Hayhurst, UK cyber placement leader at Marsh, said.

The facility

Marsh claims its facility is the largest of its kind in the market.

Underwritten by Lloyd’s of London insurers, it enables clients to access capacity to address cyber and technology risk exposures in any territory licensed by Lloyd’s.

“The reinstatement of underlying limits and surplus capacity through cyber echo’s new layer offers greater confidence and optionality to clients with increased exposures or more complex operations, as part of their overall cyber resilience efforts,” France-Hayhurst said.