At-Bay, the digital-age cyber insurance provider, has updated its Miscellaneous Professional Liability (MPL) product. They have expanded coverage to include more than 40 new business classes. This comes with an increase of the eligible revenue limit to $50 million. This move represents a substantial expansion of At-Bay’s offerings, catering to a wider range of industries.
The MPL product now covers various service sectors. They include Real Estate, Education, Financial Services, Media and Communications, Employment and Staffing, and Legal and Security Services.
“At-Bay’s Miscellaneous Professional Liability product continues to expand to meet the needs of our brokers and insureds.”
Austin Martin, At-Bay’s Head of Professional Liability
Utilizing its proprietary risk assessment engine and advanced analytics, At-Bay streamlines the MPL quoting process for brokers. According to At-Bay, a typical quote can be generated in less than two minutes, provided the business meets eligibility criteria. Even when underwriter reviews are necessary, the turnaround time is typically within 48 hours. Furthermore, brokers can now request MPL quotes via email, offering even more convenience.
Highlights:
- 40 new business classes added to At-Bay Miscellaneous Professional Liability (MPL) insurance products. Adding popular service industries including Real Estate, Education, Financial Services, and Media and Communications.
- Revenue thresholds for new business increasing to $50M from $25M, and renewal business to $60M from $35M.
- Email submissions are now available for MPL quotes, with the At-Bay Broker Platform and partner network.
In the company’s announcement, Austin Martin, Head of Professional Liability at At-Bay, emphasized the company’s commitment to expanding and improving its MPL product to meet brokers’ and insureds’ needs. With an expanded appetite for larger businesses and over 130 MPL classes covered, At-Bay continues to provide exceptional service.
Since its launch in August 2022, At-Bay’s MPL product has experienced significant growth, with gross written premiums more than doubling. Corey MacDonald, Vice President and Director of Production at Apogee Insurance Group, praised At-Bay’s commitment to addressing the ever-changing needs of businesses and brokers, underlining the company’s role in protecting insureds from complex risks.
At-Bay underwrites MPL insurance policies through United Specialty Company, a subsidiary of Markel Corporation. The coverage includes limits of up to $5 million for businesses with revenues of up to $50 million. It also extends to Cyber Liability and Technology Errors and Omissions.
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