Cyber Insurance Startup Zuroovi Shuts Down
Look:
Coverager first covered the startup in the summer of 2016; back then there wasn’t much to cover as Zuroovi just launched and the portal offered an online form to allow businesses to leave their info with the promise to later be contacted by at least three insurers that can offer cyber coverage.
“Zuroovi is the first marketplace platform of its kind dedicated exclusively to cyber insurance. And why not, given that over 90% of small businesses do not have cyber insurance? 60% of small businesses that fall victim to cyber crime close shop within 6 months due to the weight of out-of-pocket costs among other things. General business liability insurance does not cover such costs, but cyber insurance does. We want to make it easy for small businesses to get the cyber insurance protection they so need” – founder and CEO Peter Madara.
Peter Madara has since moved on.