At-Bay launches new cyber insurance program
Cyber insurance provider At-Bay announced the launch of a new cyber insurance program backed by Trisura and HSB.
Trisura serves as the new issuing carrier for the Cyber and Tech E&O program, while HSB remains At-Bay’s largest capital provider and lead reinsurer, increasing its 2022 capital commitment over the previous year. The program is also backed by a panel of reinsurance partners and At-Bay’s own newly formed captive reinsurance company, collectively providing the capacity to support long-term growth initiatives.
At-Bay’s gross written premium run rate surpassed $240 million in 2021 — a 600% increase over the previous year.
“We are thrilled to bring on Trisura as a partner and are equally excited that HSB is continuing to support our growth in 2022 and beyond. Since our inception, we have been strong proponents of helping customers strengthen their cyber security practices because their risk is our risk. Our new captive further aligns our interests with that of our customers, brokers, and reinsurance partners, making it a major milestone in At-Bay’s journey to becoming a full-stack carrier.” – Roman Itskovich, co-founder and chief risk officer of At-Bay.
“At-Bay has proven its ability to manage cyber risk year-round in a growing portfolio. We consistently strive to partner with top-tier program administrators who have profitable books of business and strong underwriting discipline, and At-Bay unquestionably fits the bill.” – Trisura president and CEO Michael Beasley.
“At-Bay has the most complete and successful risk mitigation model I’m aware of. We are committed to remaining a close partner of At-Bay, and this new program is yet another positive step forward that enables At-Bay to continue delivering exceptional results.” – Dave Firstenberg, chief underwriting officer at HSB.