Willis Towers Watson has launched a tailored cyber insurance solution for the general aviation industry, Willis Towers Watson Aerospace Cyber Guard.
The product is available to North American-based general aviation companies, including charter operators, tour operators, flying clubs, flight schools, fixed-based operators, maintenance repair operators, small aviation-related manufacturing and fleet management companies.
The cyber insurance solution was developed in cooperation with Berkley Cyber Risk Solutions and capacity will be provided by one or more insurance company subsidiaries of W. R. Berkley Corporation.
Jason Saunders, president, Willis Towers Watson Aerospace, North America, said; “as the general aviation industry wakes up to cyber risk exposures, Willis Towers Watson is leading the way by offering a tailored and specific solution to fill potential cyber coverage gaps due to the changing risk landscape.
“Willis Towers Watson Aerospace Cyber Guard is part of our integrated approach to advising companies on how to manage their cyber risks, operate more confidently in this unchartered territory and ultimately protect their brand.”
Willis said a streamlined application process offers efficiency in getting tailored coverage at agreed-upon terms.
The cyber solution includes first-party cyber liability coverage for: losses stemming from data breach response and forensic costs, business interruption losses following a data-security event targeting the insureds computer system or outside service provider’s system, hits to the insureds brand or reputation, and reasonable dollar amounts surrendered to prevent ransomware extortion.
Joe DePaul, head of FINEX Cyber/E&O, North America, said; “we are proud to offer this industry-specific solution, which was created as a result of close collaboration between our aviation business and our cyber insurance team.
“By capitalizing on Willis Towers Watson’s extensive cyber risk expertise and market knowledge, we are able to help clients address cyber exposures that are unique to their business.”
