The Top 10 Cyber Insurance Companies Brokers Should Know

 As a broker, you would like your clients to possess the simplest , most comprehensive coverage for his or her needs. this is often very true when it involves something as specific and important as cyber insurance . But what's the simplest cyber insurance firm to choose?


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With a huge wealth of options, selecting a provider are often a strenuous process. That’s why ProWriters offers wholesale brokerage services for the simplest insurance companies on the market. We work with a good range of great carriers, each with different focuses and plan options. Here are a number of the highest 10 cyber insurance companies to understand for your clients.


AIG

American International Group (AIG) may be a global insurance firm operating in 80 countries and jurisdictions. Boasting $225.8 million in direct written premiums in 2019, AIG holds 10% of the cyber insurance market share. Tailoring insurance offerings for businesses, AIG serves all manner of small, mid-size, and enormous international companies. AIG’s cyber insurance are often written through a standalone CyberEdge policy or endorsed on to other select policies as a Package.


At-Bay

Following a funding round this year, At-Bay is now valued at $1.35 billion, establishing the corporate as a serious player. Like entries on this list, At-Bay acts as a full-service cyber partner, providing diverse risk management and coverage options for cyber insurance, tech E&O, and excess coverage. Another major point is that the company’s brokerage platform, providing bindable quotes in seconds, amid actionable security insights to assist clients prevent loss.


Axis

AXIS Capital Holdings delivers specialty insurance and reinsurance solutions to clients. Its subsidiaries give the corporate a very global reach, covering over 200 countries and jurisdictions. Axis only accounts for around 4.3% of the cyber insurance market, due primarily to its wide reach in other areas. additionally to cyber, Axis also provides accident and health, casualty, environmental, management liability, professional liability, and property insurance. As of 2019, Axis partnered with global cybersecurity accelerator CyLon to assist educate cybersecurity start-ups on the opportunities and challenges of the cyber insurance market.


CFC

Operating since the 90s, CFC has extensive experience in cyber liability, also as many adjacent fields. Serving specialized plans for the actual needs of small and medium-sized businesses and enterprise scale corporations alike, the corporate boasts over 100k customers in additional than 90 countries. CFC makes its name with rapid response times, quick access thereto and management services, and a staggering $10 million in maximum excess capacity. With a mixture of fantastic customer service and comprehensive coverage, CFC may be a major player within the cyber insurance field.


Chubb

One of the highest commercial lines insurers within the US, and therefore the largest financial lines writer globally, Chubb has operations in 54 countries and jurisdictions. the corporate saw $356.9 million in direct written premiums in 2019, claiming a considerable 15.9% of the cyber insurance market share, so it’s no surprise it’s on this list of top 10 cyber insurance companies. the corporate serves a various group of clients, starting from small businesses to multinational corporations. Chubb recently expanded its partnership with password manager Dashlane to expand its complimentary cyber services further, increasing its reach with clients outside North America.


Coalition

The newest entry on this list, Coalition was only founded in 2017, but is already making waves. In its most up-to-date round of investing, Coalition brought in $175M through Index Ventures. Specializing in enterprise-grade cybersecurity, the corporate markets to the healthcare, retail/e-commerce, manufacturing, and legal markets. As a serious aspect of its value offering, Coalition supplements its cyber insurance and tech E&O packages with a robust selection of cybersecurity tools and trainings.


Corvus

Corvus makes its name as a data-driven brokerage platform, utilizing AI and machine learning to optimize specialty cyber insurance packages. Since its start in 2017, the corporate has grown rapidly, bringing in tens of millions in investment capital and swiftly expanding its cyber coverage capabilities. As of June 2020, Corvus offers enterprise-level scaling to its Smart Cyber Insurance®, Smart Tech E&O™, and other services. the corporate even netted a 2021 5-star award for cyber insurance from the leading industry magazine, Insurance Business America.


Crum & Forster

A subsidiary of insurance giant Fairfax Financial Holdings, Crum & Forster offers specialty and non-specialty insurance across a good selection of industries. The company’s long history and solid reputation give weight to its standard cyber liability offering. The first- and third-party coverage is protected by A-rated financial strength from A.M. Best, and 24/7 customer service.


Hiscox

Hiscox earns its spot within the top 10 cyber insurance In India companies list by providing comprehensive cyber coverage with its CyberClear® suite. this provides brokers a various set of options for risk management and breach services. Covering everything from first-party response costs to third-party liability fines, Hiscox demonstrates an in-depth understanding of recent market needs. They even offer optional coverage for cyber crime, deception, and social engineering, and broader business interruption. Additionally, ProWriters offers instant business insurance quotes through Hiscox NOW, letting you get reliable quotes for your clients in real-time.


Tokio Marine HCC

Operating under the larger banner of Tokio Marine, the Cyber & Professional Lines Group (CPLG) brought in $52.6 million in direct written premiums in 2019, representing 2.3% of the entire US market. CPLG offers a strong selection of insurance products, including cyber, technology errors and omissions (E&O), employment practices insurance, and other professional liability products. Tokio Marine HCC’s major domestic insurance companies have extremely high financial strength ratings from both S&P global ratings and Fitch Ratings.


Cyber Insurance Brokering Made Simple

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