Cyber insurtech Corvus Insurance has updated its Tech E+O (Errors and Omissions iinsurance) product, now supported by Travelers. The product includes both primary and excess policies.
New update brings an expanded coverage offering designed to meet the needs of technology companies of various sizes and complexities.
Corvus emphasizes that its dedicated team of underwriters for Tech E+O collaborates closely with brokers to provide insurance solutions for a wide array of technology and professional services companies, catering to organizations with annual revenues up to $2 bn.
The collaboration between Corvus and Travelers, which leverages data-driven underwriting and risk mitigation strategies, will enhance the product and service offerings available to customers.
This expansion is aimed at serving not just small and medium enterprises (SMEs) but also larger and more complex organizationsMike Karbassi, the Chief Underwriting Officer at Corvus
Mike Karbassi noted that the company’s expanded capacity allows its underwriting team to apply their expertise and experience more broadly. He also highlighted that Corvus offers value-added services throughout the policy term, including risk prevention services through Corvus Signal and a claims handling team that operates fully in-house.
Ryan Apgar, EVP at RT Specialty, pointed out the challenges brokers face due to inconsistent coverage appetites among carriers, especially in the dynamic Tech/Cyber Risk market.
Apgar appreciates the consistent and reliable underwriting approach Corvus provides, noting its capability to offer creative insurance solutions for a diverse client base and its steady appetite for covering complex risks.
This partnership between Corvus and Travelers, particularly noted for its Smart Cyber Insurance in the continental European market since 2022, focuses on providing tailored coverage and proactive risk management.
The goal is to enable businesses to confidently manage their digital risks.
Corvus Insurance is building a safer world through insurance products and digital tools that reduce risk, increase transparency, and improve resilience for policyholders and program partners.
Corvus offers insurance products in the U.S., Middle East, Europe, Canada, and Australia. Current insurance program partners include Crum & Forster, Hudson Insurance Group, certain underwriters at Lloyd’s of London, R&Q Accredited, SiriusPoint, and The Travelers Companies.
by Peter Sonner