Ocean Underwriting has announced a partnership with Tokio Marine Management Australasia (TMMA) to provide tailored cyber solutions for Australian small and medium-sized enterprises (SMEs). The collaboration aims to help businesses proactively manage cyber risks by offering core coverage for business interruption and incident response, as well as option coverage for directors and officers (D&O) liability and cybercrime, including social engineering loss.
The new cyber insurance product is designed for businesses that prioritize risk management and want comprehensive, customizable coverage. Ocean Underwriting is an independent managing general agent (MGA) that focuses on providing financial lines, property, and liability solutions.
"We pride ourselves on our exceptional understanding of risk management, strong broker relationships, and our integrated technology platform, delivering cutting-edge cyber solutions to the needs of our clients," the company said.
Wade Cadman, head of financial lines at Ocean, oversees the cyber product.
“Wade’s expertise has been instrumental in driving our business forward. I am amazed at what Ocean has achieved in under one year of trading, and cyber is now a vital fourth pillar in our product suite,” said Ocean CEO Tim Fairbrother.
The company's long-standing relationships and extensive broker network ensure personalized service and consistent engagement across all locations and business sizes.
TMMA is part of one of the world's largest insurance groups. It has nearly 150 years of global experience and more than 60 years of expertise in Australia offering specialized insurance products through its team.
“At Ocean, we’re very intentional about who we partner with. We are proud to work with TMMA because they’re specialists in their field, and we know they bring the right expertise to support our clients. An equally important factor is that we are aligned culturally, sharing values that prioritize client service and underwriting excellence,” Fairbrother said.
