Insurer Brit Ltd. Launches E-trading Cyber Portal

Brit Ltd., the London-based insurer, announced it has launched an online platform for cyber risks in both the U.K. and the U.S., targeting small and medium sized enterprises (SMEs) in both regions.

The portal will give brokers an agile, user-friendly outlet for Brit’s leading cyber underwriting capabilities, allowing them to quote and bind in minutes, entirely online, with a maximum of four question responses, said a statement from Brit, which is a subsidiary of Fairfax Financial Holdings.

The portal is underpinned by Brit Cyber’s preventative risk management and breach response service with clients having access to extensive training modules, security trend updates and downloadable content aimed at helping businesses and their employees protect against an event.

Brit said the launch of its e-trading portal is the next phase of the build-out for Brit Cyber Services, Brit’s global cyber offering.

Brit is currently one of the largest writers of cyber at Lloyd’s and has significant ambitions to build on this track record to grow its global cyber presence, the company continued in a statement. Brit’s cyber suite of products and services now range from coverage for large global corporates through to small business owners, all underwritten by Brit’s global team, based in London and Chicago.

“Our clients are only able to grow and succeed by taking control of their risks and, by ‘writing the future’ Brit plays a critical role in this,” said Matthew Wilson, CEO of Brit.

“This mindset is core to Brit Cyber Services, recognizing that as cyber risks continue to evolve it is increasingly important to help businesses take the right steps to mitigate possible breaches while making it as easy as possible for brokers and their clients to access the best insurance cover,” he added.

Nick Davies, president, Brit Americas, commented: “Brit Cyber Services has rapidly built a strong U.S. presence and the launch of our cyber portal is an important expansion of our offering. The agility of our fully online end to end system and the integration of our comprehensive risk management services is a compelling proposition for both brokers and clients in the U.S. market.”

Source: Brit Ltd.