Beazley launches Lloyd’s cyber consortium for larger buyers

Beazley PLC Tuesday launched a cyber liability insurance consortium offering $100 million in limits to large commercial policyholders.

Beazley Quantum, which is led by Beazley and supported by other Lloyd’s of London insurers, will provide coverage to companies with more than $1 billion in annual revenue.

The capacity will be available globally, distributed through Beazley’s London wholesale platform, a Beazley spokeswoman said in an email.

Last week, Beazley expanded its cyber reinsurance protection through an industry loss warranty.