WTW enhances capacity for cyber facility

WTW has revealed that it will bolster its global cyber facility with enhanced capacity and cover.

The broker said the new features for its CyXS facility were designed to meet the “dynamic needs” of clients and keep ahead of market trends as cyber risks escalate.

Among changes include a 50% rise in maximum capacity, while the number of participating Lloyd’s insurers has doubled from seven to 14.

The facility will also contain new cyber physical damage cover, which is available as a standalone option or blended with traditional cyber coverage.

WTW said the capacity increase had been in response to client feedback, “reflecting a commitment to providing robust support” for its client base. 

‘Top concern’

Reinstatement options have also been expanded to provide clients with flexibility around pre-negotiated capacity replenishment.

Glyn Thoms, head of GB finex, cyber and TMT at WTW, said enhancing the facility came as business leaders continue to express concern over the threat of a cyber attack.

“Our 2024 global directors’ and officers’ survey underscores that cyber risk remains a top concern for directors globally,” he explained.

“The enhancements to the CyXS facility are a direct response to this concern, ensuring that we continue to lead with solutions that are not only comprehensive, but also adaptable to the varied needs of our clients across different industries and regions.”