Global distributor of specialty insurance products and services, Amwins, has announced a new partnership with FusionMGA.
The partnership between the two companies will provide retail brokers with exclusive access to cyber liability coverage for accounts without minimum cyber security controls in place.
At the same time, the partnership will also give retail brokers complimentary access to proprietary cyber security tools and resources too.
“FusionMGA is made up of well-respected cyber security specialists with a deep history in our industry,” said David Lewison, executive vice president and national professional lines practice leader at Amwins.
“This service-focused cyber product is offered exclusively through Amwins brokers utilizing our proprietary digital quoting portal. These tools and coverage will help retail brokers differentiate themselves from their competition and is ideal for small to middle market clients.”
In a press release, Amwins notes that business is written on an admitted basis with no multi-factor authentication (MFA) requirements, and the program offers insureds a host of cyber-risk assessment and analytic tools at no additional cost after binding.
Other services also include integrated endpoint security, internal threat detection, attack surface assessment, cyber awareness, and a patented analytics engine which analyses traffic identifying bad files, links, and other entry points of malicious activity.
Mike Cavanaugh, chief insurance officer at FusionMGA, added: “Today’s cybercriminals are smarter and faster than ever, and for companies who are not proactively managing their cyber risk, they may not be able to find sufficient coverage.
“Through this strategic partnership, insureds gain access to meaningful cyber liability coverage while we help them implement the necessary security controls to avoid a breach. Just as cyber threats evolve, our coverage, capacity and services will enhance to keep pace.”