Marsh boosts cyber ECHO to $125m, largest facility of its kind
Global broker Marsh, a business of Marsh McLennan, has added an additional $25 million layer of capacity to its existing $100 million cyber ECHO facility.
Cyber ECHO will now offer up to $125 million of excess cyber insurance cover. Marsh claims it is the largest facility of its kind in the market.
Underwritten by Lloyd’s of London insurers, Marsh’s cyber ECHO enables global clients to access capacity to address their most complex cyber and technology risk exposures in any territory licensed by Lloyd’s. As a single facility, clients can benefit from an efficient placement process and streamlined claims mechanism.
The new $25 million layer follows the same benefits as cyber ECHO, such as optional reinstatement at pre-agreed rates in the event of a loss that erodes limits.
Serena France-Hayhurst, UK cyber placement leader, Marsh, said: “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. 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.”
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