Cyber insurance company At-Bay has added 40 new business classes to its miscellaneous professional liability (MPL) insurance product.
The newly added business classes include industries such as real estate, education, consulting and financial services, and media and communication.
Employment and staffing, and legal and security services industries have also been added to the MPL insurance offering.
Concurrently, the company increased revenue thresholds for new business from $25m to $50m.
Revenue thresholds for renewal business have been increased to $60m from $35m.
Introduced last year, At-Bay’s MPL insurance products mainly help in safeguarding businesses against financial loss and aid them in paying expenses if someone makes a claim against their business.
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The company offers a capacity of up to $5m in limits for businesses up to $50m in revenue.
At-Bay professional liability head Austin Martin said: “At-Bay’s Miscellaneous Professional Liability product continues to expand to meet the needs of our brokers and insureds.
“We now offer brokers wide and comprehensive coverage for more than 130 MPL classes, with an expanded appetite to support larger businesses.
“Our world-class underwriters and claims managers also continue to provide same exceptional service that At-Bay has become known for within industry.”
At-Bay underwrites MPL insurance policies through Markel’s subsidiary United Specialty Company.
According to At-Bay, it takes brokers less than two minutes to produce when businesses meet all eligibility requirements on the broker platform or via a distribution partner.
Brokers leverage At-Bay’s proprietary risk engine and advanced analytics capabilities to quickly produce At-Bay MPL quote.
The company claims that for its underwriter reviews, the turnaround time is usually within 48 hours.
At-Bay underwrites MPL insurance policies through Markel’s subsidiary United Specialty Company. Credit: Vitalii Vodolazskyi/Shutterstock.com.