Managing general agent Pen Underwriting has doubled its cyber cover limit to £10m, which is available for companies with revenues of up to £600m. The new limit is available from 1st July and has been introduced in response to demand from brokers for higher limits.

Pen says it has also simplified its cyber question sets, reduced its excess levels, increased its separate tower of cover for incident response and increased its crime sub-limits. The MGA has also brought all UK cyber claims handling in-house.

Ian Summerfield, managing director of cyber at Pen Underwriting, said: “Our mantra in this market is that cyber risk never stands still, so we won’t either. As market conditions, threats and exposures and buyer behaviours change, it’s essential we continue to listen to broker feedback and evolve our offering to best meet customers’ needs.

“This is especially important when your underwriting appetite is as broad as Pen’s. The more we can tailor cover to maximise relevance to our hugely diverse customer base, the easier it is for our broker partners to ensure companies invest in the scope of cyber protection they increasingly need.”