The establishment of Edgware Re Ltd. responds to the increasing need from organizations for greater stability and control over their cyber insurance policies, especially in light of shifting rates and changes to coverage.

Edgware, a cyber-only group captive insurance firm with its headquarters in Bermuda, is designed for businesses looking to improve control and stability over their cyber insurance policies.

According to their needs, participating members can acquire up to $10 million in insurance or reinsurance; if participation expands, the maximum is anticipated to rise.

Marsh offers Edgware captive management, incident response, vendor interaction, and support for claims advocacy.

The business pools participants' cyber risks and premiums, absorbs losses, and promotes the sharing of cybersecurity best practices by using Marsh's industry-leading cyber policy forms.

In the event of necessary profitability, participant members are eligible for dividends, which promotes a more stable insurance environment.

"Organizations must regularly reconsider and optimise their cyber risk strategies as the scale, frequency, and economic impact of cyber events continue to grow," stated Tom Reagan, Global Cyber Practice Leader at Marsh Specialty. A fantastic illustration of how Marsh collaborates with its clients to leverage their own abilities to develop a sustainable insurance plan that better suits their needs in the current market is Edgware Re.

"The captive insurance market is a proven risk financing alternative for organizations that want to take greater control of their risk and gain increased financial flexibility and protection," said Ellen Charnley, President of Marsh Captive Solutions. After the launch of ReadyCell, Marsh has introduced Edgware Re, its next captive innovation, which allows its participants access to shared best practices, potential profit sharing, and more predictable pricing and management.