Brit Group Holdings Limited, a specialist insurance and reinsurance company operating in the Lloyd’s, London markets and internationally, announces the launch of FI Cyber ​​Max, a new integrated network and financial institutions (FI) alliance.
FI Cyber ​​Max has been developed to support large and complex financial organizations, bringing together Brit’s specialist network and FI underwriting teams in a coordinated structure. The alliance aims to increase placement efficiency by addressing the challenges that arise when projects span multiple lines and constraints.
FI Cyber ​​Max will provide up to $20 million in lead capabilities, providing consistent protection across cyber, professional indemnity, directors and officers liability and criminal matters. This approach is designed to provide greater underwriting certainty and improve consistency across interrelated risks.
Policyholders will also benefit from Brit’s claims and risk management services, helping to ensure a consistent approach, faster response and reliable outcomes when a claim occurs.
Patrick Mitchell, collective underwriter, commented: “Financial institutions face a complex risk landscape due to the types of transactions they facilitate and the data they hold. FI Cyber ​​Max will help streamline the placement process for these organizations, allowing us to reduce fragmentation and provide the coverage required across multiple lines.”
Adam Taylor, collective underwriter in the cyber, privacy and technology sector, added: “No risk exists in isolation and in an increasingly interconnected world there is a clear need for consistent and comprehensive cover for interconnected risks.
“The launch of FI Cyber ​​Max allows us to deliver flexible deployment solutions at scale across multiple lines. As the cyber risk landscape continues to evolve, we are excited to bring another alliance to the market that allows us to address the critical needs of financial institutions.”
