MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--
At-Bay launched its 2019 cyber insurance policy form throughout the United States. Based on research of cyber threats and incidents, as well as developments in the regulatory environment, At-Bay expanded their coverage to provide a market-leading cyber insurance policy for the risks of 2019.
“Cyber insurance is technical, complex, and highly dynamic. We create peace of mind for brokers and clients with language that is flexible enough to cover a wide variety of claims and specific enough to cover emerging risk scenarios,” said Roman Itskovich, At-Bay’s Chief Risk Officer. “The new insurance policy explicitly covers GDPR, social engineering, contingent business interruption, and enhanced protection to the C-suite, among other areas,” said Benjamin Grosser, At-Bay’s Insurance Product Lead.
Christina Terplan, a partner at international law firm Clyde & Co, provided legal counsel and contributed to the creation of the form. “Brokers have seen that their clients need coverage in emerging risk areas like GDPR,” said Terplan. “It’s not enough to just write ‘GDPR’ in your form. You need to completely rewrite the definition of ‘Regulatory Claim’ to ensure coverage breadth, and that’s what At-Bay has done.”
At-Bay leverages cyber expertise and technology to underwrite. At-Bay’s security team provides policy holders with 24/7 security monitoring and support that helps them avoid breaches, and better manage incidents to minimize loss. “We scan every client’s technology from the outside during the underwriting process and continue to monitor them and help them close down vulnerabilities, the moment they emerge. This allows us to be more aggressive with the breadth of our cyber coverage,” explained Itskovich. “For example, because we analyze our clients’ email security, we can provide up to $10 million of financial fraud, well above most markets.”
You can view At-Bay’s cyber insurance policy at at-bay.com/policy.html
At-Bay is a cyber insurance MGU based in Mountain View, CA, underwritten by The Hartford Steam Boiler Inspection and Insurance Company (HSB), part of Munich Re. At-Bay’s policies go up to $10M in coverage, for organizations as large as $2B across all industry classes. At-Bay launched its insurance program in early 2018 after raising $19M from leading venture capital firms LightSpeed and Khosla Ventures. Built by insurance and security experts, At-Bay has redesigned the underwriting model to build insurance for the digital age.