Reinsurance News

Spring Insure introduces cyber coverage for SMEs

5th August 2022 - Author: Daniel Jackson

Spring Insure, the specialist MGA, has announced the launch of its commercial cyber offering, tailored for SMEs.

cyber securityThe company says cyber cover is an addition to the existing product suite of financial institutions and Directors & Officers cover it offers in partnership with Beazley.

This cyber product offers protection against loss from a cyber incident and also provides access to Beazley Cyber services including pre-breach and risk management services.

In the event of a cyber breach, policyholders will work directly with Beazley’s in-house breach response team, Cyber Services, and Beazley’s claim team to resolve the incident.

Nathan Sewell, CEO of Spring Insure, said: “Cyber capacity is not keeping pace with growing demand for cyber solutions. In our areas of specialism, larger organisations can often access cover, but sometimes small businesses are left vulnerable.”

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“We understand that the needs of these smaller companies are different to their larger counterparts and our tailored approach to underwriting every risk makes this an important addition to the suite of products we offer to the SME market.”

Earlier this month, the company appointed Bethany Thomas as Senior Underwriter, continuing the expansion of its UK financial lines and commercial directors’ and officers’ liability insurance team.

It also recently received authorisation from the Central Bank of Ireland, enabling Spring Insure to do business in Europe.

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