Pen Underwriting doubles cyber cover limits and brings claims handling in-house

Pen Underwriting has enhanced its UK cyber insurance proposition by doubling its maximum cover limit to £10m and bringing all cyber claims handling in-house.

The MGA said the maximum available cover limit has increased for companies with revenues of up to £600m, which will apply to risks incepting from 1 July 2026.

It has also introduced a series of changes designed to improve accessibility and affordability for smaller firms, including reduced excess levels, lower pricing for some revenue bands and simplified proposal questions tailored to different customer profiles.

The enhancements follow a series of cyber product updates introduced by the MGA in September 2025, as insurers continue to adapt to a rapidly evolving risk landscape.

Ian Summerfield, managing director of cyber at Pen Underwriting, said: “Our mantra in this market is that cyber risk never stands still, so we won’t either.”

Unified customer journey

Alongside the product changes, Pen Underwriting has completed the insourcing of all UK cyber claims handling, creating a single process covering underwriting, policy management and claims resolution.

The MGA said the move would improve customer satisfaction, provide better access to claims data and help accelerate payments.

Other changes include increasing incident response cover from a maximum of £250,000 to £1m outside the main policy limit, providing additional support for businesses responding to cyber incidents.

Summerfield said as cyber risks, customer expectations and market conditions were continuing to evolve, “it’s essential we continue to listen to broker feedback and evolve our offering to best meet customers’ needs”.

Summerfield added that the latest changes were intended to help brokers place appropriate cover for a diverse customer base while ensuring businesses have access to the protection they increasingly require.