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Corvus Insurance Holdings Inc., a Boston-based insurtech managing general agency, said Wednesday it is introducing Smart Tech E&O, a data-enabled tech E&O and cyber liability policy intended to help brokers and policyholders better predict and prevent risk through automated information technology security analysis, industry benchmarking and ongoing monitoring.
A total of $10 million in limits are available, according to a Corvus Insurance spokesman.
The company said in its statement the Smart Tech E&O underwriting process relies on the company’s Corvus Scan, which gathers data from organizations’ web-facing IT infrastructure, then compares a policyholder’s IT security to the Corvus database of cyber events. This information is then used to make IT security recommendations.
The new product joins Corvus’ line of other smart commercial insurance products, including Smart Cyber Insurance, Smart Cyber Excess and Smart Cargo + Cyber, the company said in the statement.
Corvus Insurance Holdings Inc. is releasing smart cyber insurance, offering broad cyber coverage to organizations with up to $1 billion in annual revenue, the company said in a statement Tuesday.