Cyber insurance provider At-Bay has expanded its Cyber and Tech E&O Excess & Surplus coverage to businesses with up to $5 billion in revenue, with aggregate limits up to $10 million, in addition to other coverage enhancements.
The firm is enhancing its Cyber and Tech E&O surplus capabilities in order to better serve mid-market to large businesses.
Cyber and Tech E&O insurance policies placed through the organisation provide comprehensive first- and third-party coverage on both primary and excess lines.
In addition, any surplus Cyber and Tech E&O policy from At-Bay also provides access to At-Bay Stance Exposure Management, which includes Stance Advisory Services.
Michael Drummond, Head of Cyber and Tech E&O at At-Bay, commented: “We’re proud to expand our coverage capabilities to larger enterprises. At-Bay’s companies now provide robust insurance coverage to more mid-market businesses, with seasoned underwriters experienced in large and complex risks and an in-house DFIR team well-versed in handling high-stakes incidents on behalf of Fortune 500 companies, in addition to our enterprise-grade Managed Detection and Response solution that provides 24/7 cybersecurity monitoring through our Security Operations Center.”
A recent report released by At-Bay revealed that the frequency of ransomware claims in the United States between 2022-2023 increased by 64% year over year, which was was primarily driven by an explosion in indirect ransomware incidents.
