Willis Towers Watson has launched Willis Towers Watson Aerospace Cyber Guard, a tailored cyber insurance product 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 cyber insurance product will be provided by one or more insurance company subsidiaries of W. R. Berkley Corporation.
For insureds, the application is streamlined to provide 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
- Losses stemming from social engineering schemes, including fraudulent money transfers
Willis Towers Watson Aerospace Cyber Guard is the latest Willis Towers Watson product to help the aviation industry manage cyber risk. In 2017, CyFly was introduced to provide tailored cyber coverage for large airlines.
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