Howden launches blended cyber product

Howden has introduced a new insurance product that consolidates Professional Indemnity, Crime, and Cyber Liability coverages into a single policy, offering financial institutions potential cost savings and efficiency.

Developed in collaboration with top specialist insurers like the Lloyd’s market, this product aims to address the rise in complex cyber claims and enhance claims responsiveness by eliminating the complications of dealing with multiple insurance products and insurers during a cyber event. “By combining the coverages into a fully blended product with a single set of policies and one limit, the product significantly improves claims responsiveness and simplifies communication with the insurer.”

“This product was developed to provide seamless and efficient solutions to address financial services clients’ increasingly complex cyber requirements in the midst of rising cyber events. This product will help clients navigate this difficult environment, and I look forward to working with them to maximise efficiencies and improve their insurance protection.” – Ed Brennan, Managing Director for Financial Institutions and D&O (FIDO), Financial Lines, Howden Broking .