According to the announcement, the venture will provide cyber insurance products and services to companies in continental Europe, focusing primarily on Germany and Austria.
Subject to regulatory approval, the European expansion of Corvus’s Smart Cyber Insurance offering will initially be geared toward small- and medium-size enterprises and middle market businesses with annual revenues up to €1 billion, the firm noted.
The firm’s new offering will provide brokers and policyholders with localised and unmatched cyber insurance tools, along with the combined cyber underwriting expertise of both Corvus and Travelers.
Madhu Tadikonda, CEO of Corvus Insurance, commented: “Corvus is uniquely positioned in today’s European market.
“We’re thrilled to partner with Travelers to bring our transparent, data-driven, and expert approach to underwriting and risk mitigation to a new audience of brokers and policyholders.”
Read the full article: Reinsurance News
