Detailed Description

Cyber Underwriting at Corvus Insurance is a service and platform that delivers customized cyber insurance quotes powered by expert underwriters and advanced technology. The offering is designed to accelerate quoting, extend insurability to more businesses, and provide brokers and clients with detailed, transparent, and actionable insights into cyber risk and coverage.

Key Features

• Modern underwriting platform built by cyber underwriters
• Industry-leading data and threat intelligence integrated into quoting
• Non-invasive IT security scan as part of risk assessment
• Collaborative approach with brokers to find creative solutions
• Detailed quote explanations to help improve security controls
• Fast submission and renewal process for small-to-midsized businesses

Key Benefits

• Customized and collaborative quotes tailored to client needs
• Rapid turnaround: autoquotes in under a minute for eligible risks, most quotes in under two hours
• Expert underwriters and cyber risk advisors available for consultation
• Greater accuracy in underwriting and pricing based on latest threat intelligence and data
• Greater transparency with detailed explanations of risk scores, limits, and subjectivities
• On-demand support and risk advisory services during the policy period
• Extends insurability to more businesses, including complex risks

How It Works

Documentation

Who Is It For

• Cyber insurance brokers (especially wholesale brokers)
• Businesses seeking cyber insurance coverage
• Licensed insurance agents or producers

Requirements

• Applicants must be represented by a licensed insurance agent or producer.
• Appointment with Corvus Insurance is required before submitting applications.

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Detailed Description

The Cyber Risk Dashboard is a core component of Travelers' Cyber Risk Services, offering policyholders continuous visibility into their cyber risk posture, actionable recommendations, and access to cyber risk experts. It leverages non-intrusive security scans and threat intelligence to help prevent cyberattacks and reduce the frequency and cost of breaches.

Key Features

• 24/7 Cyber Risk Dashboard access
• Continuous, non-intrusive security scanning of publicly visible IT assets
• Same-day threat alerts with clear remediation steps
• Custom security recommendations tailored to each organization
• Cyber Risk Score and latest scan findings
• Access to a network of preferred security vendors
• Personalized onboarding with review of current security report and actionable recommendations
• Unlimited access to in-house cyber risk experts for guidance
• Educational resources and regular updates on cyber threats

Key Benefits

• 20% reduction in the frequency and cost of cyber breaches for engaged policyholders
• 3x faster patching with same-day alerts
• 15 days average advanced notice on emerging threats before exploitation
• No additional cost beyond policy premium
• Potential for up to 25% reduction on self-insured claim retention by completing the Security Questionnaire

How It Works

Documentation

Who Is It For

• All Corvus policyholders
• Businesses of any size or complexity
• Small businesses seeking to implement basic security controls
• Enterprises looking to augment existing security teams

Requirements

• Must be a Corvus policyholder to access the Cyber Risk Dashboard.
• Eligibility for the Cyber Risk Endorsement (retention reduction) is determined during underwriting.
• Security Questionnaire must be completed prior to the discovery of an incident for retention reduction eligibility.

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Detailed Description

Cyber Risk Services is a suite of cyber risk management offerings for Corvus Insurance policyholders, powered by Travelers. It includes continuous threat monitoring, expert guidance, a 24/7 dashboard, and onboarding support to help businesses prevent cyberattacks and reduce risk.

Key Features

• Always-on cyber threat monitoring and alerting via Cyber Risk Scan
• 24/7 Cyber Risk Dashboard for exposure checks and custom recommendations
• Expert cyber guidance from in-house team
• Personalized policy onboarding with actionable recommendations
• Same-day threat alerts with step-by-step remediation actions
• Access to preferred security vendors
• Security questionnaires to augment scan findings
• Unlimited access to guidance via email, virtual meetings, or phone calls

Key Benefits

• 20% reduction in the frequency and cost of cyber breaches for engaged policyholders
• 3x faster patching with same-day alerts
• 15 days average advanced notice on emerging threats before exploitation
• Expert guidance to improve security controls and optimize investments
• Access to a network of preferred security vendors
• Personalized onboarding and ongoing support
• Potential for up to 25% reduction on self-insured claim retention for completing the Security Questionnaire

How It Works

Documentation

Who Is It For

• All Corvus Insurance policyholders
• Businesses of any size or complexity
• Small businesses needing basic security controls
• Enterprises seeking to augment existing security teams

Requirements

• Must be a Corvus Insurance policyholder to access services.
• Eligibility for the Cyber Risk Endorsement (retention reduction) is determined during underwriting.
• Security Questionnaire must be completed prior to the discovery of an incident for retention reduction eligibility.

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Detailed Description

Smart Cyber Insurance® is designed to protect businesses from cyber threats, offering both primary and excess insurance policies. Coverage is provided on Travelers A++ paper and includes a comprehensive suite of protections against losses from security breaches, cyber crime, and related digital risks.

Key Features

• Primary and excess cyber insurance policies
• Coverage for businesses up to $5B in revenue
• Limits up to $10M
• First-party coverage: business interruption, contingent business interruption, digital asset destruction, data retrieval, system restoration, system failure, cyber extortion, ransomware, breach response, remediation expenses, social engineering, cyber crime
• Third-party coverage: network security and privacy liability, regulatory investigations, fines, penalties, media liability, PCI DSS assessment expenses
• Additional coverage: bricking, invoice manipulation, forensic accounting, bodily injury, criminal reward, preventative shutdown
• Industry-specific endorsements for healthcare, financial institutions, manufacturing, and construction

Key Benefits

• Coverage for both first-party and third-party cyber risks
• Limits up to $10M
• Access to Travelers Cyber Risk Services for risk mitigation
• 24/7 expert claims and incident response support
• Real-time threat intelligence and risk alerts
• Customizable coverage with industry-specific endorsements

How It Works

Documentation

Who Is It For

• Businesses with up to $5B in gross annual revenue
• Organizations seeking primary or excess cyber insurance
• Industries including healthcare, financial institutions, manufacturing, construction, professional services, life sciences, retail, and education
• Brokers and appointed agencies specializing in cyber risk

Requirements

• Available to businesses with up to $5B in gross annual revenue
• Coverage available through appointed agencies and surplus lines licensees
• Not available for direct purchase through the website

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Detailed Description

Smart Tech E&O® insurance protects technology companies from financial losses due to errors, omissions, or negligence in delivering technology services or products, as well as losses from cyber incidents. It combines cyber insurance and tailored E&O coverage in a single policy.

Key Features

• Third-party coverage: network security and privacy liability, regulatory investigations, fines and penalties, media liability, PCI DSS assessment expenses, technology and professional services E&O
• First-party coverage: business interruption, contingent business interruption, digital asset destruction, data retrieval, system restoration, system failure, cyber extortion and ransomware, breach response and remediation expenses, social engineering and cyber crime, reputational loss
• Additional coverage: bricking coverage, invoice manipulation, forensic accounting coverage, bodily injury, criminal reward coverage, preventative shutdown
• Includes all coverage from Smart Cyber Insurance® plus Technology and Professional Services Liability

Key Benefits

• Comprehensive coverage for technology and cyber risks
• Limits up to $5M
• Available for companies with up to $2B in revenue
• Primary and excess policies available
• Backed by Travelers A++ (Superior) AM Best rated insurance company
• Access to cyber risk prevention services proven to reduce risk
• 24/7 expert guidance and claims support
• Potential for up to 25% reduction on self-insured claim retention for completing security questionnaire

How It Works

Documentation

Who Is It For

• IT consultants
• Data analytics companies
• IT staffing firms
• Telecommunication service providers and consultants
• E-Cycling and Shredding companies
• Software developers
• Digital advertising agencies
• Web design and hosting companies
• Technology hardware developers
• Software-as-a-Service (SaaS) providers
• Value added resellers
• Most technology service companies

Requirements

• Available for most technology service companies
• Coverage provided by a U.S. based Travelers surplus lines insurance company on a nonadmitted basis
• Policy may only be accessed through a surplus lines licensee and may not be purchased directly through the website

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Detailed Description

When a security breach happens, Corvus Insurance (by Travelers) offers expert, in-house claims management available 24/7. The service is designed to help policyholders understand, manage, and recover from cyber incidents quickly and effectively.

Key Features

• Personalized, rapid response to every incident
• Dedicated claims manager for each case
• Team of cyber experts tailored to the incident
• Hand-in-hand collaboration with brokers
• Real-time claims tracking through the Cyber Risk Dashboard
• Unlimited access to expert support services
• Carefully vetted, independent vendor recommendations for critical response services
• One-hour post-incident session with a Cyber Risk Officer
• Expert guidance on cyber risk mitigation and resilience best practices

Key Benefits

• 24/7 access to an expert, in-house claims team
• Immediate assignment of a dedicated claims manager and tailored cyber expert team
• Ongoing updates for both policyholders and brokers during the recovery process
• Real-time tracking of claims updates and documentation via the Cyber Risk Dashboard
• Unlimited access to expert support and vendor recommendations
• Post-incident session with a Cyber Risk Officer to discuss mitigation and resilience
• Guidance on improving security controls based on forensic findings

How It Works

Documentation

Who Is It For

• Policyholders of Corvus Insurance cyber insurance products
• Brokers working with Corvus Insurance clients
• Businesses experiencing or preparing for cyber incidents

Requirements

• Must be a Corvus Insurance policyholder or broker
• Claims should be related to covered cyber incidents (e.g., ransomware, data breach, wire fraud, system failure)

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