Marsh Risk, a business of Marsh, has announced the launch of a cyber policy endorsement framework designed to accelerate clients’ access to funds following a cyber incident.
Through the framework, Marsh has negotiated bespoke accelerated payment endorsements with cyber insurers AIG, Beazley, Canopius, CFC, and QBE.
Marsh has also embedded new policy language into its proprietary primary cyber products, including Cyber CAT, and is working to expand carrier participation and extend the framework to additional markets globally.
The framework establishes a clear, negotiated pathway for advance and interim payments and enables insurers to pay approved incident-response firms directly, so clients do not need to front early recovery costs during a crisis.
It also mandates interim payments for undisputed business interruption (BI) losses and introduces a standardised, prioritised evidence package to shorten insurer review times and align expectations among policyholders, brokers, and insurers. The policy language clarifies when response costs and BI losses are eligible, helping reduce ambiguity that can slow settlements.
Greg Eskins, Global Cyber Product Leader at Marsh Risk, said, “Settling cyber business interruption claims can be a protracted, documentation-heavy process.
“Our framework is aimed squarely at the operational and financial realities our clients face when they are trying to recover from a cyber incident. By minimising our clients’ out-of-pocket expenses, getting money into their hands sooner, and by reducing complexity regarding the documentation insurers need, we help clients focus on recovery, not paperwork.”
