"As we emerge into a more stable market, CyXS helps us continue to support our clients with accessing significant capacity in an efficient way."
- Glyn Thoms, WTW head of GB Finex cyber, and TMT
CyXS is a completely flexible insurance product that will allow clients to access up to 50m (USD/GBP/EUR) of excess layer capacity to be deployed through Lloyd’s A-rated insurers anywhere in the program.
Its ‘follow form’ coverage features customised WTW excess layer wording with proprietary excess attachment provisions, providing clients greater claims certainty and clarity when they encounter differences in the terms and conditions within an insurance program.
A function called CyXS Restore also provides clients with the option to purchase a reinstatement of limit for primary layer coverage at a pre-agreed additional premium percentage.
Commenting on the launch, Glyn Thoms, WTW head of GB Finex cyber, and TMT, has said:
“For the last 12 to 18 months, the ransomware crisis has made obtaining cyber insurance capacity very difficult, yet demand from companies has continued to grow. As we emerge into a more stable market, CyXS helps us continue to support our clients with accessing significant capacity in an efficient way and further adds to our broad suite of innovative cyber solutions.”
