CyberGuide - Information Security and Cyber Risk Management

PSA Insurance & Financial Services

Mike Volk – Cyber Practice Leader
11311 McCormick Road
Hunt Valley, MD 21031
443.798.7403
mvolk@psafinancial.com


About PSA Insurance & Financial Services:

Managing cyber risk is hard, costs money and requires expertise to manage. This is a reality for organizations of all shapes and sizes. But, doing nothing or maintaining the status queue is no longer an option.

In order to help our clients succeed in this dynamic and increasingly interconnected world, PSA Insurance & Financial Services leverages cyber insurance, partnerships with cybersecurity service providers and cybersecurity technology to help our clients become more resilient. Drawing from this network, PSA launched a unique offering in 2019 called CyberON that bundles assessment services, technology and insurance together into an affordable package. While these services are available to small and large businesses alike, the CyberON product is built with small businesses in mind.

In addition to developing unique solutions and helping our clients access the best cyber insurance coverage to protect their business, we also make it a priority to stay connected to the cybersecurity community. We are a founding member of the Cybersecurity Association of Maryland and Mike Volk, our Cyber Risk Solutions practice lead, is a member of the Board of Directors.

We can’t simplify cybersecurity or eliminate cyber risk. No one can do that. What we strive to do at PSA is make it a whole lot easier and affordable for our clients to do something about it.

Survey Answers

Target Client Size
$25M to $1B
Does US business in
Northeast, Southeast, Midwest, Southwest, West
Does international business in
N/A
Primary Service Offering
Insurance Broker
When did your company start placing standalone cyber insurance policies?
2010
What was your organization's standalone cyber gross written premium this year?
0 - $3M
How many dedicated cyber insurance brokers does your company have handling client cyber risk on a day-to-day basis?
1-5
What percentage of your clients buy cyber insurance?
41-50%
Approximately how many standalone cyber claims did your firm’s clients file in the last 12 months?
6-15
Approximately how many cyber claims involving other lines of business did your firm’s clients file in the last 12 months?
Did not respond
Who are your top 5 trading partners of primary cyber insurance policies?
AXIS, Chubb, CNA, Travelers, Evolve MGA
Who are your top 5 trading partners of excess cyber insurance policies?
Allied World, CNA