Cyber Claims Counsel

It's time to celebrate the incredible women leading the way in AI! Nominate your inspiring leaders for VentureBeat’s Women in AI Awards today before June 18. Learn More. Solving the widening cybersecurity insurance gap that drives businesses away from purchasing or renewing policies needs to start with risk assessments based on AI-driven real-time insights. Cyber insurers are focused on helping clients reduce the probability of a breach by continually improving and augmenting cybersecurity strategies. Real-time risk assessments, underwriting improvements, streamlining claims processing, and resilience planning all need to be improved with AI delivering solid gains to each. “It’s reducing claims costs, which reduces insurance premiums. We can give better-preferred pricing and better coverage by ensuring they have good endpoint detection and response (EDR) in place. And that’s the hope to make it more accessible for these smaller organizations and just increase awareness overall

At-Bay, the insurance provider for the digital age, announced today the expansion of its Cyber and Tech E&O Excess & Surplus coverage to businesses with up to $5B in revenue with aggregate limits up to $10M, in addition to other coverage enhancements.1 This expanded appetite and higher limit will enable brokers to offer At-Bay’s market-leading InsurSec solution to even more mid-market and enterprise businesses.“We’re proud to expand our coverage capabilities to larger enterprises,” said Michael Drummond, Head of Cyber and Tech E&O at At-Bay. “At-Bay’s companies now provide robust insurance coverage to more mid-market businesses, with seasoned underwriters experienced in large and complex risks and an in-house DFIR team well-versed in handling high-stakes incidents on behalf of Fortune 500 companies, in addition to our enterprise-grade Managed Detection and Response solution that provides 24/7 cybersecurity monitoring through our Security Operations Center.”Cyber and Tech E&O insurance policies placed through At-Bay provide comprehensive first- and third-party coverage on both primary and excess lines.Every surplus Cyber and Tech E&O policy from At-Bay also comes with access to At-Bay Stance™ Exposure Management, including Stance Advisory Services2. At-Bay’s enterprise-grade Managed Detection & Response security solution, offered separately through At-Bay’s security company3, is powered by CrowdStrike and provides 24/7 cybersecurity monitoring, proactive threat detection, and swift incident response by At-Bay’s elite cybersecurity professionals.1 At-Bay Insurance Services, LLC, a wholly-owned subsidiary of At-Bay, Inc., is a property and casualty insurance agency and surplus lines broker licensed in all fifty states and the District of Columbia offering coverage underwritten by admitted and non-admitted insurers. Surplus lines insurance sold only through licensed surplus lines producers.2 At-Bay Stance Exposure Management offerings include Stance Exposure Manager and Stance Advisory Services, which are available to policyholders via the Embedded Security Fee and corresponding Endorsement. Please refer to the policy form for additional information.3 At-Bay Security, LLC is a wholly-owned subsidiary of At-Bay, Inc., providing cybersecurity services including MDR and incident response. At-Bay Security, LLC does not provide insurance services

SAN FRANCISCO--(BUSINESS WIRE)--At-Bay, the InsurSec provider for the digital age, today released its 2024 InsurSec Report, which details new trends in ransomware attacks against mid-market and emerging businesses. One major finding from the report, which analyzes At-Bay’s ransomware claims data from 2022 to 2023: Ransomware didn't just grow in the US in 2023, it evolved, with the frequency of ransomware claims jumping 64% year-over-year. This was primarily driven by an explosion in “indirect” ransomware incidents which increased by more than 415% in 2023 than in 2022. Standing out among the biggest loss drivers were remote access tools, which accounted for 58% of ransomware attacks. Double leverage attacks - those using both data encryption and exfiltration - also grew by 51% in 2023, demonstrating that threat actors shifted their tactics to pressure more victims into paying ransoms. “Vulnerabilities in remote access products continue to drive too many successful ransomware attacks," said Rotem Iram, CEO and Co-Founder of At-Bay