Edgware Re is a first-of-its-kind, cyber-only group captive designed by Marsh to meet the needs of financially stable companies that are looking for more control, stability, and contract certainty than what the current traditional cyber insurance market can provide.
Domiciled in Bermuda, Edgware Re will only transact business with participating members. After an initial investment, members have the option to purchase an insurance or reinsurance policy, utilizing Marsh’s proprietary cyber insurance wording, from Edgware Re based on their needs. As with traditional cyber insurance, Edgware Re will indemnify members for covered losses. However, unlike traditional cyber insurance, Edgware Re members will be eligible for dividends in the event of requisite profitability.
Members will also receive captive management, incident response, vendor engagement, and claims advocacy support from Marsh.
Why Edgware Re?
- Additional pricing stability and control, potentially reducing market volatility.
- Contract certainty, due to using Marsh’s proprietary cyber insurance wordings.
- Strategic optionality as Edgware Re capacity can be utilized in various ways to best meet the member’s strategic goals and needs while still reducing volatility due to the pooling of participants’ risks.
- Capacity customization to suit a member’s goals and needs, while still benefiting from group membership.
- Sharing of cybersecurity best practices with like-minded organizations.
- Economies of scale and increased buying power, due to the pooling of resources and risks.
- Underwriting profit returned as dividends.
Edgware Re is available to organizations with strong cyber hygiene as reported via the Marsh Cyber Self-Assessment, as well as robust financial and corporate risk management. At this time, public entities, healthcare providers, education, and cloud services providers are not eligible.
If any of the benefits resonate with you and your organization, please complete the form to learn more.