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Amwins Launches Cyber+ Exclusive Proprietary Cyber Insurance
Amwins, a global distributor of specialty insurance products and services, today announced the launch of Cyber+, an exclusive, proprietary cyber insurance product designed to provide enhanced coverage and stability for SME businesses in a continuously evolving market.
Cyber+ delivers specialized SME-focused coverage, including:
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$500,000 social engineering and invoice manipulation fraud limits with enhanced coverage wording
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Breach costs primary to other insurance
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Breach costs outside the limit (up-to $4M) and $1M additional defense costs outside policy limit
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Full limit hardware bricking/replacement coverage
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“Pay on behalf” event management and extortion expenses
In addition to robust insurance coverage, Cyber+ offers services from Upfort Shield, an industry-leading cyber security suite, and breach response services through Mullen Coughlin, a leading cyber security law firm. Policyholders will benefit from Upfort Shield’s enterprise-grade defenses including employee cyber training, browser firewall extension, inbox threat detection, and much more, making Cyber+ an ideal choice for organizations seeking protection and peace of mind.
“With the uptick in social engineering activity over the last couple of years, we’ve seen a number of social engineering and invoice manipulation policy restrictions cause insureds pain at the time of loss,” said Matt Donovan, executive vice president at Amwins. “By removing the common nuisance policy restrictions and offering a sublimit double the market standard, we hope to give our retail clients and their insureds confidence in an area that they’ve increasingly experienced frustration in the cyber marketplace.
The SME cyber insurance landscape has faced years of frustration, from confusing policy language to misunderstood coverage limitations and inadequate limits. Cyber+ creates a clear competitive advantage for our clients in the SME market through offering quality cyber coverage and proactive tools to reduce risk – all in a streamlined manner.
Amwins Cyber+ is exclusively available for new business through Amwins IQ, Amwins’ online marketplace enabling access to firm, bindable quotes within minutes.
“We’re delivering a product that not only addresses today’s challenges but also anticipates tomorrow’s risks,” said John Grise, executive vice president at Amwins. “This launch underscores our ability to innovate and lead in a space where stability, foresight, and efficiency matter most.”
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