What:
WTW announced an affirmative cyber coverage product for cargo and stock throughput risks.
Why:
WTW recognizes that cyber risk exposure is an ongoing concern in the global supply chain. Cyber exclusions are broad in scope and apply to nearly all cargo insurance policies following the widespread adoption of the LMA 5403 Cyber Endorsement.
How:
- WTW provides affirmative coverage for loss or damage to goods while in the ordinary course of transit and/or while in storage caused by the malicious use of a computer or computer system.
- The coverage “wraps” around the underlying cargo or stock throughput policy.
- It streamlines the underwriting and quoting process.
- The agreed program rating for $1,000,000 in limit, limits up to $5,000,000 may be available for select Insured’s subject to underwriting review.