PRESS RELEASE: KYND announces expansion into the US insurance market to tackle cyber risk head-on
PRESS RELEASE: Ed Broking joins KYND's Broker Programme to unlock new opportunities and drive cyber insurance sales
KYND Limited, a provider of pioneering cyber risk management solutions, has announced that global (re)insurance broker, Ed Broking, has become the newest member of the successfully expanding KYND Broker Programme. Through this partnership, Ed Broking’s insurance specialists will benefit from greater visibility into their clients’ cyber risk exposure and exclusive suite of cyber services and tools, that will enable them to effectively drive and support the rapidly evolving cyber insurance market.
According to a Cyber Insurance Market Report 2020, the global cyber insurance market size in the post-COVID-19 projection is expected to grow from $7.8billion in 2020 to $20.4 billion by 2025. The key factors driving the market include the rapidly growing number of cyber security incidents resulting in huge financial losses, reputational damage, and stringent government regulations towards the adoption of cyber insurance policies.
Being aware of this rapidly increasing demand, the KYND Broker Programme has been specifically designed to give its members a head-start in harnessing the fast-growing market. It combines KYND’s in-depth cyber expertise, a seamless 360-degree sales support, and advanced, yet easy-to-use cyber risk management technology to enable brokers to promptly identify, present and best address the cyber risks facing their clients.
Andy Thomas, KYND’s CEO, said: "We’re are very pleased to welcome Ed Broking as the newest member of the KYND Broker Programme. With today’s rapid technological advancement, keeping up with the equally evolving threat landscape can be particularly challenging for businesses. To accomplish this, we enable our partners to take full advantage of complete visibility and clear understanding of the cyber risks their clients are facing. And we’re here for them every step of the way towards making cyberspace a safer place for businesses to thrive.”
Henry Warner, Ed Broking’s Divisional Director – Head of Cyber, Professional & Executive Risk, said: “At Ed Broking, we strive to always be at the forefront of the industry, and it also involves being able to effectively address emerging challenges for our clients. KYND’s extensive industry expertise and their innovative cyber risk management products perfectly complement our efforts and support us greatly in delivering on our value proposition which extends beyond simply placing an effective insurance policy.”
Founded in March 2018 and headquartered in London, KYND is a new breed of cyber company. KYND makes complex cyber risks simple to understand and manage for every organisation, regardless of size, means or industry sector.
About Ed Broking
Ed is a truly global insurance and reinsurance provider with offices in the world’s key regional and global insurance centres. A leading Lloyd’s broker, it employs some of the best and most experienced people in the industry with expertise in all major lines of business. Ed is thoroughly independent and committed to being so.
Ed is part of Corant Global and owned by BGC Partners Inc. (NASDAQ: BGCP), a leading global brokerage and financial technology company.
For more information, please visit https://www.edbroking.com/
Discussion of Forward-Looking Statements about BGC
Statements in this document regarding BGC that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, BGC undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see BGC’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
Media contact: Harjeet Singh +44 20 7894 8829
Investor contact: Jason Chryssicas +1 2126102426
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