Corvus Insurance has launched a new programme with Core Specialty to support the expansion of its Excess Tech errors and omissions (E&O) and cyber product.
The new programme will provide more than US $5 million in coverage for companies with revenues up to $500 million. It will be written on Core Specialty’s paper and will include technology E&O coverage, as well as a suite of cyber coverages.
Core Specialty is an insurance holding company that operates through surplus lines insurer StarStone Specialty Insurance as well as StarStone National Insurance, Lancer Insurance, and Lancer Insurance of New Jersey.
Corvus Insurance is a Boston-headquartered cyber underwriter powered by a proprietary cyber risk platform.
The new programme is supported by a panel of reinsurers. Additionally, the programme’s risk will be taken through Corvus’s captive, Corvus Reinsurance Company. Corvus’s in-house team will have full management of the policies — from underwriting to claims handling.
Commenting on the partnership, Jeff Consolino, Core Specialty’s president and CEO says: “We chose Corvus for our first foray into cyber and technology E&O because of its unique and modern approach to combining skilled underwriting with data-driven technology.”
