MGA Corvus expands cyber underwriting appetite
Cyber MGA Corvus Insurance has doubled the limit of its Smart Cyber Insurance coverage to $10 million for aggregate covered losses, as part of its efforts to expand its underwriting appetite.
The company has taken a series of measures to increased its underwriting appetite for businesses with less than $30 million in annual revenue, with a particular focus on the sub-$10 million segment.
In addition to doubling the limit for aggregate covered losses, Corvus has raised the annual revenue to $5 billion for companies it will offer coverage.
The revised limits and revenue guidance are available across a broad set of business classes, it said. Corvus has completed its full transition to Travelers Excess and Surplus Lines paper.
Mike Karbassi, chief underwriting officer at Corvus Insurance, said: “Our ability to use data and the skill of our underwriting team to underwrite effectively across segments and sizes of business through varying market conditions sets us apart.
“Having transitioned to Travelers paper for our core Cyber and Tech E&O products earlier this year, we’re excited to increase the scope of businesses we can now write.”
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