Cyber+ introduces SME-focused coverage features including limits of up to $500,000 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 provides full-limit hardware bricking and replacement coverage, along with “pay on behalf” event management and extortion-expense cover.
The product 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. Breach response services are provided by Mullen Coughlin, a cyber law firm specialising in incident management and data breach response.
Amwins developed Cyber+ to address persistent challenges in the SME cyber segment, where inconsistent policy wording, restrictive exclusions and limited capacity have often left smaller businesses underinsured or uncertain about coverage. Executive Vice President Matt Donovan explained that the rise in social engineering incidents has exposed the weaknesses of traditional SME policies, and Cyber+ was created to remove these pain points while providing greater clarity and confidence for brokers and clients.
Executive Vice President John Grise added that Cyber+ is designed not only for current cyber risks but also to anticipate emerging threats as technology and business models evolve.
The launch comes amid growing competition in the SME cyber insurance market, with brokers and insurers racing to simplify products and integrate cybersecurity tools. In January 2024, Willis Towers Watson introduced a tailored cyber solution for North American SMEs with revenues under $50 million, offering self-service quoting and streamlined underwriting. Similarly, UK-based MGA Starpeak launched its Cyber Resilience and Recovery Cover earlier this year, which provides protection and around-the-clock technical and legal support for small enterprises.
Amwins’ new product enters this fast-moving market as both a response to rising demand and a reflection of the industry’s broader shift toward holistic protection. The launch highlights an ongoing trend in the cyber insurance sector, where underwriters and intermediaries are striving to balance profitability with the growing need for accessible, comprehensive coverage for smaller businesses.
