Corvus’s Smart Cyber Insurance® product (which covers primary and excess policies) has doubled the limit offering to US$10 million for aggregate covered losses and raised the annual revenue to $5 billion for companies it will offer coverage.
The insurtech has also increased its underwriting appetite for business with less than $30 million in annual revenue, particularly extending its focus on the sub- $10 million segment.
The revised limits and revenue guidance are available across multiple sets of business classes. Furthermore, all Corvus product are now written on Travelers Excess and Surplus Lines paper.
Mike Karbassi, Chief Underwriting Officer at Corvus, commented on the announcements: “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.”
Karbassi added “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.”