Introduction to Cyber Echo Encore
Marsh, a leading insurance broker and risk advisor under the banner of Marsh McLennan, has introduced Cyber Echo Encore, an advanced feature of its renowned Cyber Echo insurance facility. This enhancement offers clients access to up to $45 million in new cyber insurance capacity.
Unique Features of Cyber Echo Encore
Cyber Echo Encore is underwritten by London market insurers operating outside the Lloyd’s marketplace, providing clients with enhanced options in terms of capital and coverage. Moreover, it retains the simplified access and placement features of the original Marsh Cyber Echo, making it accessible to a global clientele.
Background and Impact of Cyber Echo
Initially launched in 2016, Marsh Cyber Echo was the largest facility of its kind, offering up to $125 million in cyber insurance coverage. Since its inception, approximately 500 clients worldwide have benefited from nearly $50 billion in coverage through this facility.
Expansion and Benefits of Cyber Echo Encore
Cyber Echo Encore extends the reach of Cyber Echo beyond the Lloyd’s market while preserving critical features like streamlined underwriting, efficient placement, seamless claims handling, and the ability to reinstate coverage after a loss within the underwriting year.
Expert Insight
Serena France-Hayhurst, the UK Cyber Placement Leader at Marsh, stated, “In the face of increasing cyber threats, businesses are in pursuit of standalone cyber insurance solutions that empower them to manage their evolving and complex risk profiles more effectively. Marsh Cyber Echo stands as the most successful and widely utilized cyber insurance facility globally. We are dedicated to crafting new solutions that aid clients in better managing their cyber risks. Cyber Echo Encore is a natural progression in the realm of cyber insurance, offering clients enhanced optionality and flexibility to manage their insurance programs.”
