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Willis Towers Watson PLC on Monday launched an excess cyber liability facility providing up to $50 million in capacity.
The facility, known as CyXS, is backed by a panel of Lloyd’s of London insurers and available to global clients of WTW that purchase excess layer cyber programs.
Capacity is deployed by two lead insurers on behalf of all the facility insurers and available anywhere on the insurance program, WTW said.
Coverage is available on a “follow form” basis with tailored excess layer policy wording, including a proprietary excess attachment provision, which provides greater claims certainty when there are differences in terms and conditions.
There is also an option to purchase a reinstatement of limit for primary layer coverage at a pre-agreed additional premium percentage, WTW said.