Willis Towers Watson, today launched Willis Towers Watson Aerospace Cyber Guard, a tailored cyberinsurance solution for the general aviation industry.
Willis Towers Watson Aerospace Cyber Guard was developed in cooperation with Berkley Cyber Risk Solutions, a Berkley Company, and is available to a range of North American-based general aviation companies, including charter operators, tour operators, flying clubs, flight schools, fixed-based operators, maintenance repair operators, small aviation-related manufacturing and fleet management companies. The cyberinsurance solution will be provided by one or more insurance company subsidiaries of W. R. Berkley Corporation.
For insureds, a streamlined application process offers organizations ease and efficiency in obtaining tailored coverage at agreed-upon terms. Key features include first-party cyberliability coverage for:
-Losses stemming from data breach response and forensic costs
-Business interruption losses following a data-security event targeting the insureds computer system or outside service provider’s system
-Hits to the insureds brand or reputation
-Reasonable dollar amounts surrendered to prevent ransomware extortion
“As the general aviation industry wakes up to cyber risk exposures, Willis Towers Watson is leading the way by offering a tailored and specific solution to fill potential cyber coverage gaps due to the changing risk landscape,” said Jason Saunders, president, Willis Towers Watson Aerospace, North America.
“Willis Towers Watson Aerospace Cyber Guard is part of our integrated approach to advising companies on how to manage their cyber risks, operate more confidently in this unchartered territory and ultimately protect their brand,” he added.