AIG’s Validus Specialty launched a new division focused on crisis management. At-Bay said it launched its 2019 cyber insurance policy form throughout the United States.
AIG’s Validus Specialty Underwriting Services launched a new division focused on crisis management.
The expansion leveraged Talbot Underwriting’s (Lloyd’s syndicate 1183) existing crisis management expertise and established a complementary offering focused on the U.S. middle-market. The new portfolio includes two main classes of coverage: product contamination, including product recall, and auto component recall.
With this buildout, Validus Specialty further diversified its product suite and strengthened its underwriting talent to serve its growing customer base.
Startup insurer At-Bay said it launched its 2019 cyber insurance policy form throughout the United States.
At-Bay said its coverage is based on research of cyber threats and incidents, as well as developments in the regulatory environment. According to the company, the new insurance policy covers areas including GDPR, social engineering, contingent business interruption and enhanced protection to the C-suite.
At-Bay launched its insurance program in early 2018 after raising $19 million from venture capital firms LightSpeed and Khosla Ventures. Built by insurance and security experts, At-Bay says it has redesigned the underwriting model to build insurance for the digital age.
Sources: AIG/Validus Specialty, At-Bay