CyberGuide - Information Security and Cyber Risk Management

Ascent Insurance

Caspar Stops – Head of Cyber & Technology
1 Minster Court
Mincing Lane, London
EC3R 7AA
+44.(0)208.629.8006
john.merchant@ascentinsure.com


About Ascent Insurance:

Ascent was originally formed towards the end of 2012 and commenced underwriting with effect from January 1st, 2013. Ascent is an approved Lloyd’s coverholder.

What differentiates Ascent from many of our competition is that we have built a consistently profitable portfolio of business from an increasingly large distribution channel. As Cyber risk exposures faced by our clients change, we believe that our diverse portfolio of business and focus on underwriting quality gives us a competitive advantage. This income stream is mid-market by nature, giving our partners access to a balanced, profitable portfolio in the key emerging risk in recent years. We have created market leading proprietary

products and we partner with risk managers and risk mitigation specialists to complement our insurance solutions and manage claims.

Our Cyber underwriting team is now one of the largest and most experienced teams in London and recognized for our underwriting, service and investment into technology across the globe. In order to augment our strategy of consistently profitable growth, we have developed our technology platform (Optio Connect) to ensure we can capitalise on the growth potential in the sector and pivot to any change in the way business is transacted within our distribution channel (i.e. API connectivity).

Survey Answers

Target Client Size
up to $1B
Does US business in
Northeast, Southeast, Midwest, Southwest, West
Does international business in
Canada, Continental Europe, Africa, Australia/New Zealand, United Kingdom
Primary Service Offering
Insurance Carrier
When did your company start writing standalone cyber insurance policies?
2013
What are your company’s cyber insurance direct written premiums?
$50M to $100M
What percentage of your cyber insurance direct written premiums come from standalone policies and endorsements?
91% to 100% standalone
How many cyber-related claims did your company handle last year?
more than 100
What percentage of your cyber book of business is primary and excess?
71% to 80% primary | 21% to 30% excess
How many dedicated cyber insurance underwriters of standalone does your company have?
11-15
What percentage of your cyber-related claims were covered by standalone cyber policies and other lines business?
0 – 10% standalone