Amwins, a global distributor of specialty insurance products and services, has announced a new partnership with FusionMGA providing retail brokers with exclusive access to cyber liability coverage for accounts without minimum cyber security controls in place, as well as complimentary access to proprietary cyber security tools and resources.
“FusionMGA is made up of well-respected cyber security specialists with a deep history in our industry,” said David Lewison, executive vice president and national professional lines practice leader at Amwins. “This service-focused cyber product is offered exclusively through Amwins brokers utilizing our proprietary digital quoting portal. These tools and coverage will help retail brokers differentiate themselves from their competition and is ideal for small to middle market clients.”
Business is written on an admitted basis with no multi-factor authentication (MFA) requirements, and the program offers insureds a host of cyber-risk assessment and analytic tools at no additional cost after binding. Other services include integrated endpoint security, attack surface assessment, internal threat detection, cyber awareness and training and a patented analytics engine that analyzes traffic identifying bad files, links, and other entry points of malicious activity.
“Today’s cybercriminals are smarter and faster than ever, and for companies who are not proactively managing their cyber risk, they may not be able to find sufficient coverage,” said Mike Cavanaugh, chief insurance officer at FusionMGA. “Through this strategic partnership, insureds gain access to meaningful cyber liability coverage while we help them implement the necessary security controls to avoid a breach. Just as cyber threats evolve, our coverage, capacity and services will enhance to keep pace.”
FusionMGA enables retail brokers to provide cyber risk mitigation beyond the risk transfer of a cyber policy, without having to become a cybersecurity expert themselves. By utilizing innovative process-driven technology, scalability is a built-in advantage for this exclusive program.
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