WTW has announced a new dimension to its global cyber facility, a 50% increase in capacity that enhances its global cyber facility.
Following the launch of CyXS in January 2023, WTW has increased its capacity by 50%. The facility now also includes coverage for cyber induced physical damage, which is becoming increasingly relevant as cyber exclusions become prevalent.
Glyn Thoms, head of GB finex, cyber and TMT at WTW, said: “Our 2024 Global Directors’ and Officers’ Survey underscores that cyber risk remains a top concern for directors globally. 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.”
Andy Maher, head of cyber and technology, London, Axis Capital added: “We are very pleased to continue as a leader of the WTW CyXS facility, which harnesses some of the key values that Lloyd’s markets bring to the cyber insurance space, ensuring the class keeps pace with and anticipates our mutual customers’ needs.”
