Marsh Launches Edgware Re: Cyber Group Captive

Marsh has established Edgware Re Ltd., a group captive insurance company aimed at providing organizations with enhanced control and stability in their cyber-insurance programs.

Headquartered in Bermuda, Edgware Re focuses solely on cyber insurance and transacting exclusively with its participating group members. Participating members can procure cyber insurance or reinsurance of up to $10 million, with the potential for expanded limits as membership grows.

Edgware Re will pool participants' cyber risks and premiums, absorb losses, and facilitate the exchange of cyber-security best practices among members, according to Marsh.

"As the scale, frequency, and economic impact of cyber events continue to grow, organizations must regularly reconsider and optimize their cyber-risk strategies," said Tom Reagan, global cyber practice leader, Marsh Specialty. 

Ellen Charnley, president of Marsh Captive Solutions, said, "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. Edgware Re offers its participants the potential for more stable pricing and control, access to shared best practices, and potential profit sharing."