Specialty insurer AmWINS has announced the launch of a Cyber Umbrella Program designed to fill gaps in coverage resulting from silent cyber incidents.
The program, called CyberUP, is focused on middle market accounts and offers lead umbrella position over primary coverages in all instances.
“Until now, the insurance marketplace has only responded to the issue of silent cyber by publishing whitepapers, evaluating carrier books across lines or adding exclusions and sublimits,” said David Lewison, Senior Vice President and Professional Lines Practice Leader of AmWINS.
“CyberUP is the market’s first modern Cyber Umbrella policy designed to affirmatively protect insureds against silent cyber incidents,” Lewison continued.
“The frequency and severity of cyber breaches continues to increase, and while cyber insurance policies are widely available, breaches have begun to bleed into many other lines of insurance.”
“CyberUP is a true umbrella form that provides coverage without overlapping other policies. The product’s drop-down capabilities are triggered only by a cyber-related event.”
