CyberGuide - Information Security and Cyber Risk Management

Risk Placement Services

Steven R. Robinson – National Cyber Practice Leader
2850 Golf Road
Rolling Meadows, IL 60008
410.901.0704
Steven_robinson@rpsins.com


About Risk Placement Services:

RPS was among the first wholesale brokerage operations to specialize in cyber risk insurance. In 2014, the firm revolutionized the cyber insurance procurement process with the introduction of its award-winning RPSSmallBusiness.com platform. RPS is the only insurance brokerage to enable its national network of more than 48,000 retail agents to quote and bind cyber coverage from three

admitted carriers, for virtually all industry sectors, in less than 2 minutes. This technology innovation, coupled with the expertise of a large national cyber insurance brokerage practice, has enabled RPS to capture more than 14% of the U.S. market share for standalone cyber insurance policy placements (AM Best).

RPS’s extensive claims handling experience has recently led to the creation of an innovative rapid-response process that addresses the growing ransomware epidemic head-on. Insureds can quickly return to operational normalcy, eliminating the need for securing business loans associated with having to front payment and wait for reimbursement from their insurance carriers.

From start-up businesses to publically held corporations; from small colleges and school districts to some of the largest U.S. cities; RPS’s cyber insurance brokerage practice has created innovative cyber insurance programs, often manuscripting unique coverage grants and distribution methods never before seen in the marketplace.

For all industries, of all sizes and in all places, RPS’s command of the cyber risk insurance landscape has propelled the firm to the top of the wholesale insurance community in this rapidly-developing area of risk.

Survey Answers

Target Client Size
up to $10B
Does US business in
Northeast, Southeast, Midwest, Southwest, West
Does international business in
United Kingdom
Primary Service Offering
Insurance Broker
When did your company start placing standalone cyber insurance policies?
2009
What was your organization's standalone cyber gross written premium this year?
$50M to $100M
How many dedicated cyber insurance brokers does your company have handling client cyber risk on a day-to-day basis?
more than 25
>25 What percentage of your clients buy cyber insurance?
61-70%
Approximately how many standalone cyber claims did your firm’s clients file in the last 12 months?
more than 100
Approximately how many cyber claims involving other lines of business did your firm’s clients file in the last 12 months?
more than 100
Who are your top 5 trading partners of primary cyber insurance policies?
AXIS, Beazley, Hiscox, Lloyds of London, BCS
Who are your top 5 trading partners of excess cyber insurance policies?
AXIS, Chubb, Lloyds of London, AXA/XL, RSUI