Brit has introduced FI Cyber Max, an integrated consortium combining its cyber and financial institutions underwriting capabilities. The product is designed for large, complex financial clients requiring coverage across multiple lines.
The consortium brings together Brit's cyber and financial institutions underwriting teams to streamline placements. The structure aims to reduce friction in programmes where multiple lines and limits are spread across fragmented arrangements.
FI Cyber Max will offer up to US$20 million in lead capacity. Coverage spans cyber, professional indemnity, directors' and officers' liability, and crime.
Policyholders will also have access to Brit's claims and risk management services as part of the offering.
Patrick Mitchell (pictured above), class underwriter at Brit, said financial institutions operate within a complex risk environment given the nature of their transactions and the data they handle. He added that "FI Cyber Max will help simplify the placement process for these organisations, allowing us to reduce fragmentation and deliver coverage needed across multiple lines."
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Adam Taylor, class underwriter for cyber, privacy and technology, noted that risks do not exist in isolation. He said the interconnected nature of modern business creates demand for coverage that addresses related exposures in a unified manner.
"The launch of FI Cyber Max enables us to offer a flexible deployment solution across multiple lines at scale," Taylor said. He added that as cyber risks continue to develop, the consortium addresses a need among financial institutions for consolidated coverage options.
The evolving threat environment includes emerging challenges from artificial intelligence. Most cyber insurers are now adding AI endorsements to policies to clarify their intent to cover losses initiated by AI threat actors.
AI-fuelled attacks, particularly deepfakes and social engineering fraud, are growing more sophisticated, and cyber coverage remains one of the few areas where insurers appear to be reinforcing rather than restricting protection.
