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Corvus Insurance Holdings Inc. and Bermuda-based insurer and reinsurer SiriusPoint Ltd. on Wednesday said they have partnered to offer a cyber insurance program with up to $5 million in limits.
The program is fronted by Accredited Surety and Casualty Co. Inc., a unit of Randall & Quilter Investment Holdings Ltd.
Under the program, Boston-based Corvus will take on primary and excess cyber liability risks for businesses earning up to $1 billion in gross annual revenue, the companies said in a joint statement.
All incoming claims will be managed by Corvus’ in-house claims team, and its current and previous Smart Cyber Insurance programs remain intact and separate from the program, the companies said.
The cyber program is part of a multiyear underwriting capacity partnership in which SiriusPoint has invested in Corvus to support existing and future commercial insurance coverages, according to the statement.
Insurtech firm Corvus Insurance Holdings Inc. said Friday it is increasing its limits for its broad-form social engineering and cybercrime coverages.