WTW, a prominent player in the insurance industry, has introduced a groundbreaking cyber insurance product specifically tailored for small and medium-sized enterprises (SMEs) with annual revenues below $50M.
This strategic move aims to address the unique challenges that SMEs encounter in the cybersecurity landscape, according to The Coverager.
Recognizing the increasing importance of cybersecurity, WTW is dedicated to providing SMEs with affordable and comprehensive coverage, transforming how these businesses approach and manage cyber risks.
WTW’s latest cyber insurance for SMEs ensures swift access to competitive quotes through user-friendly self-service platforms, simplifying the typically intricate process. It has achieved this in collaboration with industry leaders like Coalition, CFC, Cowbell, and Chubb.
It is hoped that this will provide SMEs with access to coverage that is both affordable and extensive, resolving challenges previously faced by small businesses in this critical area.
Jessica Klipphahn, NA Head of MM Cyber/E&O at WTW, said, “This moment signifies a transformative effort, dedicated to addressing the distinctive challenges SMEs face in the realm of cybersecurity. Through strategic partnerships with top-tier cyber insurance carriers and the delivery of resources, we assure SMEs access to affordable and comprehensive coverage. This initiative not only resolves concerns previously facing SMEs but also positions cybersecurity as an integral and manageable component of their business strategy and enterprise risk management.”
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