Corvus Insurance and SiriusPoint Ltd. (“SiriusPoint”), the global specialty insurer and reinsurer, have announced a strategic investment and multi-year underwriting capacity partnership that will support existing and future commercial insurance product offerings. The partnership’s first program, with leading program management solution provider R&Q’s Accredited acting as the fronting insurer, focuses on Corvus’s Smart Cyber Insurance® product and builds on the company’s existing cyber operations.
This new program enables Corvus to take on primary and excess cyber liability risks for businesses earning up to $1B in gross annual revenue, with limits up to $5M. All incoming claims will be fully managed end-to-end by the Corvus in-house Claims team. Current and previous Smart Cyber Insurance® programs remain intact and separate from this new undertaking.
“Corvus is focused on making the world a safer place, and this new partnership with SiriusPoint and R&Q’s Accredited will play an integral role in extending our mission,” said Phil Edmundson, founder and CEO of Corvus Insurance. “We are excited to expand our capabilities in providing world-class smart commercial insurance products to a new generation of brokers and policyholders, and we thank our new partners for making this possible.”
With their multi-year underwriting capacity arrangement and SiriusPoint’s investment in Corvus, the companies aim to expand upon the successful track record of Corvus’s Smart Cyber Insurance® product, as well as to pursue new, differentiated commercial insurance products.