The new product streamlines the procurement process by reducing the number of questions required for a quote and provides clients with enhanced risk quantification insights, the brokerage stated. It has been developed in partnership with Safe Security and is underwritten by Mosaic Insurance, Chubb, and Liberty Specialty Markets. It requires clients to answer 30% fewer underwriting questions, while also delivering a more objective evaluation of cyber risk gaps and exposure.
Jean Bayon de la Tour (pictured above), Howden’s international head of cyber, noted that following the launch of Howden Cyber+ earlier in the year, Howden Safe+ is the next step in the company’s approach to cyber insurance.
“Safe+ creates a clear, predictable and transparent link between cybersecurity and cyber insurance, ensuring that companies that invest in the latest cyber security measures are duly rewarded,” de la Tour said.
Mosaic Insurance’s head of international cyber, James Tuplin, also stated that the partnership with Howden, Chubb, Liberty Specialty Markets, and SAFE introduces advanced risk assessment.
“They’re the best way to obtain direct, accurate information around an insured’s cyber security posture, and offer far more insightful information, obtained more quickly and efficiently, than the standard application form process. Our streamlined process with Howden offers broader coverage at better terms with up-front incentives—it’s how buying cyber insurance should be done,” Tuplin said.
What are your thoughts on this story? Please feel free to share your comments below.
