At-Bay, which describes itself as “the cyber insurance provider for the digital age”, has launched a cyber insurance programme backed by two leaders in specialty insurance: Trisura Specialty Insurance Company and The Hartford Steam Boiler Inspection and Insurance Company (HSB).
Trisura serves as the new issuing carrier for the Cyber and Tech E&O programme, while HSB remains At-Bay’s largest capital provider and lead reinsurer, increasing its 2022 capital commitment over the previous year. The program is also backed by a panel of reinsurance partners and At-Bay’s own newly formed captive reinsurance company, collectively providing the capacity to support long-term growth initiatives.
The reinsurance programme is comprised of a panel of diverse and highly rated partners that includes Skyward Specialty Insurance, a leading specialty P&C insurer with an emphasis on tech-focused business. Forming its own captive reinsurance company, At-Bay will also retain a portion of every risk it underwrites, while remaining a Managing General Agent (MGA).
Roman Itskovich, co-founder and chief risk officer of At-Bay, said, “Since our inception, we have been strong proponents of helping customers strengthen their cyber security practices because their risk is our risk. Our new captive further aligns our interests with that of our customers, brokers, and reinsurance partners, making it a major milestone in At-Bay’s journey to becoming a full-stack carrier.”
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