Marsh Risk, a business of global re/insurance broker Marsh, has announced that its Cyber ECHO facility now provides clients with up to $200 million of insurance capacity, making it the largest cyber facility in the global insurance market.
Launched in 2016, Cyber ECHO is designed to mitigate clients’ most complex cyber and technology risk exposures.
The facility has become a cornerstone of Marsh Risk’s cyber insurance portfolio, securing more than $55 billion in cover for over 1,500 clients globally to date.
Cyber ECHO draws on capacity underwritten by leading insurers operating across the Lloyd’s, company, and Bermuda markets, providing clients with greater flexibility and choice in capital deployment and global coverage.
Cyber ECHO now offers clients a free coverage reinstatement option, as well as a paid second reinstatement option for separate cyber events. It also provides bursaries for risk management services to clients with premiums above $1 million. These features are designed to help clients maintain coverage across multiple incidents and reduce any gaps in protection, while improving their resilience to cyber threats over the longer term. The previous iteration of Cyber ECHO’s reinstatement feature has already been widely used by clients to maintain ECHO following cyber incidents.
Thomas Reagan, Global Cyber Practice Leader at Marsh Risk, said, “Since its launch, Cyber ECHO has significantly broadened its scope, evolving into the world’s most comprehensive cyber insurance facility, offering unmatched coverage limits, diverse placement options, and innovative enhancements. These latest enhancements to Cyber ECHO form part of the Global Cyber Practice’s annual product update, which ensures we are continuing to deliver competitive and, above all, effective solutions that enable clients to anticipate emerging vulnerabilities and manage their risks with greater optionality and flexibility.”
Serena France-Hayhurst, UK Cyber Placement Leader at Marsh Risk, added, “In a world currently dominated by a hostile risk environment, cyber risk still remains one of the most critical threats facing organisations today, with the potential to cause severe operational and financial disruption, as well as extensive reputational damage. Cyber ECHO provides clients with greater certainty in dealing with ever-evolving cyber threats.”
