Corvus, SiriusPoint team on cyber cover

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.