“Willis Towers Watson recognized long ago the potential overlap of cyber and crime risks and the benefits of addressing these risks holistically within our clients’ insurance portfolios,” said Peter Foster, Head of Global FINEX Cyber and Cyber Risk Solutions, WTW. “Although cyber and crime specialists within our global FINEX organization have been collaborating for some time, the formation of the group underscores the importance of this initiative.”
The CyberCrime task force is dedicated to understanding the intricacies of cyber and crime insurance and the interplay between them. Driven by the ever-evolving market dynamics, the team delivers innovative solutions that coordinate your crime and cyber risks. By approaching cyber and crime in a unified manner, our clients benefit from enhanced coverage which address gaps and overlaps, pricing synergies, leveraging carrier relationships and the ease of claims handling.
The objectives of the task force include:
- Tailoring traditional or alternative risk transfer solutions that align with our client’s enterprise risk management objectives.
- Identify and advise on emerging risks relevant to financial institutions.
- Active engagement with commercial insurers.
- Market an unparalleled, bespoke cybercrime form.
- Quantify the exposure with a first of its kind integrative modeling tool to allow clients to align their risk transfer approaches with their key strategic measures.
Led by Emily Lowe (Regional Cyber Leader for New England) and Colleen Kutner (US Fidelity Thought Leader), the task force will consist of a diverse global team of industry and product experts.
“Insurance contracts can be quickly outpaced by evolving operational risks, rapid advancements in technology, and cyber criminals finding innovative ways to exploit weaknesses in technology infrastructure and human behavior,” said Susan Finbow, Global Head of FINEX Financial Institutions, WTW. “Our FINEX CyberCrime task force brings together our very best technical product, industry and modeling experts to help our clients take a holistic view to their evolving Cyber and Crime risks.”
About WTW
At WTW, we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.