Amwins has launched Cyber+, a proprietary cyber insurance product designed to provide coverage for small and mid-sized enterprises (SMEs).
The product introduces SME-focused coverage features such as $500,000 limits for social engineering and invoice-manipulation fraud, breach costs that are primary to other insurance and extend outside policy limits up to $4 million, and an additional $1 million in defence costs. It also offers full-limit hardware bricking and replacement coverage, along with “pay on behalf” event management and extortion-expense cover.
Cyber+ combines insurance protection with proactive risk-management tools. Through Upfort Shield, policyholders gain access to employee cyber-training, inbox-threat detection, browser-firewall extensions, and other preventive security features. The product also includes breach-response services provided by Mullen Coughlin, a cyber law firm specializing in incident management and data breach response.
Amwins said Cyber+ was developed in response to persistent challenges in the SME cyber segment, where inconsistent policy wording, restrictive exclusions, and limited capacity have often left smaller businesses under-insured or confused about coverage. Executive vice president Matt Donovan noted that a rise in social-engineering incidents has exposed the shortcomings of many traditional SME policies. Cyber+, he said, seeks to remove common coverage pain points while providing greater certainty to brokers and clients.
Fellow executive vice president John Grise added that the product is built not just for present-day risks but to anticipate emerging threats as technology and business models evolve.
The launch comes as competition in the SME cyber market intensifies, with brokers and insurers racing to simplify products and integrate cybersecurity tools.
In January 2024, Willis Towers Watson (WTW) unveiled a tailored cyber solution for North American SMEs with revenues under $50 million, featuring self-service quoting and streamlined underwriting. Meanwhile, UK-based MGA Starpeak introduced its Cyber Resilience and Recovery Cover earlier this year, offering protection and 24/7 technical and legal support for micro and small enterprises.
Amwins’ new product enters this fast-moving market as both a response to demand and a signal of the sector’s shift toward holistic protection.
The launch also underscores a broader industry movement toward innovation and accessibility in cyber insurance, as underwriters and intermediaries look to balance profitability with the growing need for affordable, comprehensive protection in one of the sector’s most rapidly evolving lines.
