Today I’m thrilled to announce the latest product to take flight from the Corvus nest: Smart Cyber Excess Insurance. This product was created in response to demand from our brokers for excess capacity in cyber, and brings increased underwriting appetite for our Smart Cyber Insurance™ product lines.
Under a new underwriting mandate from Hudson Insurance, our risk-taking partner, Corvus now underwrites Excess Cyber Insurance for most types of organizations with up to $1 billion in annual revenues in addition to its primary offering. We now write Smart Cyber Excess Insurance policies with up to $10 million in aggregate limits.
Just like all of our Smart Cyber Insurance policies, Smart Cyber Excess underwriting will be driven by the Corvus Score™ and will include Dynamic Loss Prevention™ (DLP) reports. Corvus Scores are based on an assessment of any enterprise’s IT footprint, including their vendors and partners, across eight critical security criteria. This provides holistic visibility into your client’s security programs to better inform underwriting. The Corvus Score also drives a customized DLP Report that includes recommendations and business intelligence you can use to inform your clients about their cyber risk and help them to reduce the total cost of risk.
As a broker we know you’re always working to provide the best options for your clients, and we couldn’t be more excited that Corvus will now be among your options for Excess Cyber.
If you’d like to learn more about our Smart Cyber Excess Insurance, please contact me here.
We gathered some thoughts from insurance and cybersecurity veterans, from Corvus and elsewhere, and shared where they see trends moving in cyber in 2020.
Mike Karbassi is Vice President and Head of Cyber Underwriting at Corvus. He specializes in Network Security, Privacy Liability, Technology E&O, Media Liability, and Miscellaneous Professional Liability. Karbassi has over a decade of experience in insurance and is a graduate of the Boston University Questrom School of Business.
Gerritt is the Chief Commercial Officer at Corvus. He has over 20 years of sales and marketing experience, primarily focused on technology and data solutions for the financial services industry.
James co-founded Corvus and is the company’s Chief Technology Officer. A 30+ year technology veteran, Jaimie most recently served as CTO of Iora Health and previously co-founded Gazelle.
Mike Lloyd is the Co-Founder and Chief Product Officer of Corvus Insurance. Previously, Mike co-founded Poncho, a personal lines agency InsurTech startup, and was a venture investor at FJ Labs. Mike has an MBA from Harvard Business School and engineering degrees from Virginia Military Institute and MIT.
Phil is the founder and CEO of Corvus. A 30+ year insurance veteran, Phil co-founded broker William Gallagher Associates (acquired by Arthur J Gallagher in 2015) and was an active leader in both the Worldwide Broker Network and Council of Insurance Agents and Brokers. Phil is the Managing Partner of Edmus Ventures where he invests in InsurTech companies including Verifly, Wellthie, Agentero, and Cover Wallet, and serves on the board of Cover Wallet.