17 January 2023Insurance

Munich Re-backed At-Bay launches new admitted cyber cover for small businesses

Munich Re-backed cyber insurtech At-Bay has rolled out a new admitted product designed to better cater to the insurance needs of small businesses in the US.

The new product, At-Bay explained, is targeted towards small businesses with revenue up to $25 million who are increasingly the target of cyber crime, but often do not need the additional enhancements and flexibilities offered by surplus lines.

At-Bay’s admitted policies, written through an AM Best A- rated paper backer, are approved in 47 US states and will be sold exclusively through its partner network via API integration.

Admitted cyber policyholders will have access to At-Bay’s Security Report and our Active Risk Monitoring services, supported by its in-house Security team.

“Our new admitted cyber insurance product allows us to better serve small businesses — which face just as much digital risk as their larger counterparts — with affordable cyber coverage,” said Kristie Felton, head of digital partnerships at At-Bay. “Releasing this new offering solely through our digital API partners aligns with our mission as a digital-first specialty carrier.”

Tom Parsons, head of digital strategy for Amwins, added: “At-Bay’s admitted cyber offering will be an impactful addition to our broker toolkit. At-Bay is on the leading edge of digital insurance, both in helping manage cyber risk for its clients with Active Risk Monitoring and in the ease, speed, and flexibility of its API distribution.”

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