CyberGuide - Information Security and Cyber Risk Management

Cysurance

(Pictured: Kirsten Bay – Co-founder & CEO)

Gray Newhouse
15 West 38th St, Suite 713
New York, NY 10018
917.503.8031
gnewhouse@cysurance.com


About Cysurance:

Cysurance is a next-generation cyber insurance program protecting small and medium businesses (SMBs) and their partners through affordable cyber insurance underwritten and serviced by Chubb North America. Sold primarily through lenders and technology service providers, Cysurance leverages existing relationships and infrastructure to reduce the friction of buying cyber insurance by eliminating applications and underwriting. Licensed in 49 states, Cysurance allows vendors to bind insurance for their customers without being an insurance agent. Using vendor tools or our proprietary monitor, the insured’s network traffic is analyzed in real-time and anomalous activity is recorded in the Cysurance blockchain for full transparency. This automatically triggers our smart contract and a breach response team – which is covered by the policy with no deductible – to begin remediation and get the policyholder back on their feet as quickly as possible.

Cysurance’s policy is always primary, includes coverage for events occurring prior to the policy effective date without the insured’s knowledge, and will never force a litigation settlement. It features broad definitions and also covers ransomware and cybercrime, mental and physical injury, and cloud-based extortion scenarios.

Survey Answers

Target Client Size
up to $100M
Does US business in
Northeast, Southeast, Midwest, Southwest, West
Does international business in
N/A
Primary Service Offering
Insurance Carrier
When did your company start writing standalone cyber insurance policies?
2019
What are your company’s cyber insurance direct written premiums?
0 to $3M
What percentage of your cyber insurance direct written premiums come from standalone policies and endorsements?
Standalone 91 - 100%
How many dedicated cyber insurance underwriters of standalone does your company have?
more than 25
How many cyber-related claims did your company handle in 2019?
0-5
What percentage of your cyber-related claims were covered by standalone cyber policies and other lines business?
Standalone 91 - 100%