Marsh, the insurance broker and risk advisor under Marsh McLennan, has introduced CyberShore Bermuda, a new excess cyber insurance facility designed to provide up to $30m in follow-form excess Bermuda coverage.
The offering attaches at limits above $75m, with clients having the option to buy affirmative coverage for fines and penalties.
Bowring Marsh Bermuda Financial and Professional and cyber placement leader Sarah Carr said: “CyberShore Bermuda represents a pioneering solution in the Bermuda cyber market, further evidencing Marsh’s ability to deliver innovative products that ensure optimal terms for clients while enhancing efficiency in capacity, coverage and claims management.”
The facility includes a claims enhancement feature, allowing the lead insurer to manage claims handling. This approach is intended to reduce negotiation times and deliver a faster, more consistent claims response.
Marsh US and Canada cyber practice leader Meredith Schnur said: “Marsh is committed to bringing new capacity and optionality to its clients when it comes to transferring their ever-evolving cyber risks to the insurance marketplace.
“The launch of CyberShore Bermuda closely follows the introduction of Cyber Echo Encore, Marsh’s global cyber facility, which offers clients up to $45m in excess cyber capacity from London market insurers based outside of Lloyd’s.”
Recently, Marsh McLennan Agency expanded its services through the acquisition of Arthur Hall Insurance.
Established in 1966, Arthur Hall Insurance provides both commercial and personal insurance solutions, serving a diverse range of sectors including life sciences, information management, non-profit, craft beverage manufacturing and municipal industries.
