Automated Quoting + Individual Account Underwriting

The art of underwriting complex risk should never lose its human touch. While much of our underwriting process is automated through risk models built by our Data Science team, we understand that certain cases require expert review. Our Underwriting Team has decades of experience in Cyber, Cargo, and Tech E&O, so no matter the size or distinctiveness of the business, you can be sure the quote you’re getting has been developed with care.

Smart Cyber Insurance Underwriting Appetite

  • Primary risks earning up to $2B in gross annual revenue
  • Excess risks earning up to $2B in gross annual revenue
  • Limits up to $10MM
  • Most risk classes are eligible, with the exception of the following:

– Casinos/gambling risks
– Colleges/universities
– Cannabis related risks
– Pornographic/adult content related sites
– Social media/networking (websites relying on user-generated content, blogs, chat rooms and online networking forums)
– Payment processors

Smart Cyber Insurance Coverage

Third-Party Coverages

Network Security and Privacy Liability

Regulatory Investigations, Fines and Penalties

Media Liability

PCI DSS Assessment Expenses

Breach Management Expenses

Technology and Professional Services E&O

Smart Cyber Insurance Features

Broad coverage and competitive rates thanks to our proprietary underwriting process

Prioritized recommendations for fixing key IT vulnerabilities

Efficient quoting with the shortest application in the industry

Ongoing cyber threat monitoring throughout policy period

Quotes returned within minutes for most accounts

Risk Management Portal for cyber education and training

Online platform for easy quoting

Access to dedicated breach response team and other approved third-party vendors

Dynamic Loss Prevention Report with every policy: easy-to-read IT security assessment

Experienced cyber claim response team

Smart Cyber Insurance Claims

Real-time access to information, 24/7. Push-button reporting. Advanced breach analysis from our data science team. Welcome to a smarter claims experience.

Data drives Corvus – and that includes the claims experience. With our digital platform, the CrowBar, brokers can access claims 24/7 and generate claims reports at the press of a button. Sending updates to a client is just another click away.

The claims experience doesn’t stop there. When a Smart Cyber Insurance claim occurs, Corvus works closely with our risk-taking partner Hudson Insurance Group. The U.S.-based claims team at Hudson has over 15 years of experience in handling Cyber, Media and Tech E&O claims. Claims are initiated through the breach coach, available 24/7.

While we work with the claims team on immediate response, our Data Science team runs a Corvus scan on the state of your IT Security at points in the past: one week and one month before the claim. The Corvus team advises the policyholder on how to improve IT security,  providing specific recommendations directly related to the claim. If suggested improvements are made, we won’t count the claim against the policyholder at the next renewal.  

And before a claim ever occurs, we have the best-in-breed resources, like table-top exercises, breach coaches, digital forensics, crisis management and much more. These are available in our Risk Management Portal, part of the CrowBar digital platform and available at no extra cost for all policyholders.

Smart Tech E&O Underwriting Appetite

  • Risks earning up to $1B in gross annual revenue
  • Primary limits up to $5M
  • Most technology-based services companies are eligible, with the exception of the following:

– Social Networking Websites
– Chat-rooms/Blogs/Message Boards
– User-Generated Content Websites (i.e YouTube)
– Online Dating Websites
– Gambling
– Adult Content
– Video Game Developers
– Aviation Software
– Microchip Manufacturers
– Cryptocurrency/Bitcoin

Smart Tech E&OTM Coverage

Third-Party Coverages

Network Security and Privacy Liability

Regulatory Investigations, Fines and Penalties

Media Liability

PCI DSS Assessment Expenses

Breach Management Expenses

Technology and Professional Services E&O

Smart Tech E&O Features

Broad coverage and competitive rates thanks to our proprietary underwriting process

Prioritized recommendations for fixing key IT vulnerabilities

Efficient quoting with the shortest application in the industry

Ongoing cyber threat monitoring throughout policy period

Quotes returned within minutes for most accounts

Risk Management Portal for cyber education and training

Online platform for easy quoting

Access to dedicated breach response team and other approved third-party vendors

Dynamic Loss Prevention Report with every policy: easy-to-read IT security assessment

Experienced cyber claim response team

Smart Tech E&O Claims

Real-time access to information, 24/7. Push-button reporting.
Welcome to a smarter claims experience.

Data drives Corvus – and that includes the claims experience. With our digital platform, the CrowBar, brokers can access claims 24/7 and generate claims reports at the press of a button. Sending updates to a client is just another click away.

In handling Tech E&O claims, Corvus works closely with our risk-taking partner Crum & Forster (C&F). C&F is recognized for providing superior service based on responsiveness, a collaborative approach and cumulative knowledge. The company has more than 500 claim professionals nationwide, with specialized expertise in Cyber and Technology E&O. 

While we work with the claims team on immediate response, our Data Science team runs a Corvus scan on the state of your IT Security at points in the past: one week and one month before the claim. The Corvus team advises the policyholder on how to improve IT security,  providing specific recommendations directly related to the claim. If suggested improvements are made, we won’t count the claim against the policyholder at the next renewal.  

And before a claim ever occurs, we have the best-in-breed resources, like table-top exercises, breach coaches, digital forensics, crisis management and much more. These are available in our Risk Management Portal, part of the CrowBar digital platform and available at no extra cost for all policyholders.

Smart Cargo + Cyber Underwriting Appetite

We underwrite Smart Cargo + CyberTM for the life sciences and food & drink industries, for both perishable and non-perishable goods, including wine and beer.

Target Industry Segments:
– Manufacturing
– Wholesale
– Distribution
– Importers & exporters
– Freight forwarding 

Smart Cargo + Cyber Coverage

We offer an industry-first affirmative Cyber endorsement with Cargo policies. 

  • Ocean/Air Transit
  • War/SR&CC
  • Domestic Transit
  • Location Extensions – (Warehouse/Processing)
  • Salesperson’s Sample
  • Exhibition/Trade Shows
  • Affirmative cyber endorsement

 

Enhanced Coverage for Perishable Products

  • Spoilage
  • Refrigeration
  • Net Profit and Extra Expense on Product While at Processor
  • Product Deterioration on Goods While at Processor

Our Comprehensive, All Risk Form Includes

Warehouse to Warehouse

World to World Insurance (except where prohibited by law or regulation)

Contingent Insurance

Deliberate Damage – Pollution/ Customs

Concealed Damage

Full Value Reporting

Shortage from Containers

Drop Shipments

Consolidation Coverage

Smart Cargo + Cyber Claims Handling

Real-time access to information, 24/7. Push-button reporting. Advanced loss analysis from our data science team. Welcome to a smarter claims experience.
Data drives Corvus – and that includes claims. Our digital platform changes the rules for handling Cargo Insurance claims. Within the CrowBar, brokers can access claims 24/7 and generate claims reports at the press of a button. Sending updates to a client is just another click away.

We work closely with our risk-taking partner, Argo Group, on handling cargo claims. When a Smart Cargo Insurance claim occurs, we can look at the shipment data of the event and track it to the minute. With that information, we can help determine what party in the logistics chain was responsible for the loss. If that is a party other than the policyholder, we are informed and effective at subrogating (making the other entity pay) the claim. That improves the loss record of our insureds.

 

Mike Karbassi

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 Graham

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 McElhiney

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

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 Edmundson

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.

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