Key news highlights:
- 40 new diverse business classes added to At-Bay Miscellaneous Professional Liability (MPL) insurance product across popular service industries including Real Estate, Education, Financial Services, and Media & Communications.
- Revenue thresholds for new business increasing to $50M from $25M, and renewal business to $60M from $35M.
- Email submissions now available for MPL quotes, with the At-Bay Broker Platform and partner network.
At-Bay, the insurance provider for the digital age, today announced that it has added more than 40 new classes of business to its Miscellaneous Professional Liability (MPL) product and increased the eligible revenue limit for businesses to $50 million. Boosting the number of business classes available within the six most popular verticals offered by At-Bay MPL, the industries represented span the likes of Real Estate, Education, Consulting and Financial Services, Media and Communication, Employment and Staffing, and Legal and Security Services.
Leveraging At-Bay's proprietary risk engine and advanced analytics capabilities to better assess and price risks for MPL with greater speed and accuracy, a typical At-Bay MPL quote takes brokers less than two minutes to produce when businesses meet all eligibility requirements on the broker platform or via a distribution partner. When underwriter reviews are required, the turnaround time is usually within 48 hours, which is a fraction of the time most insurers take. In addition to At-Bay’s broker platform and distribution partner network, quotes for MPL are now available to brokers via email as well.
“At-Bay’s Miscellaneous Professional Liability product continues to expand to meet the needs of our brokers and insureds,” said Austin Martin, At-Bay’s Head of Professional Liability. “We now offer brokers wide and comprehensive coverage for more than 130 MPL classes, with expanded appetite to support larger businesses. Our world-class underwriters and claims managers also continue to provide the same exceptional service that At-Bay has become known for within the industry.”
At-Bay MPL launched in August 2022 and since then, its gross written premiums have more than doubled. At-Bay’s continued investment in the product, and most recent expansion to include 40 additional classes of business within just a year of launching, positions it to become the preferred provider of Miscellaneous Professional Liability coverage in the years to come.
“At-Bay continues to be a strong partner that we rely on to protect our insureds from complex risks,” said Corey MacDonald, Vice President, Director of Production, Apogee Insurance Group. “The new enhancements to At-Bay’s Miscellaneous Professional Liability offering demonstrates the company’s ongoing commitment to addressing the ever-changing needs of businesses and brokers today.”
At-Bay underwrites Miscellaneous Professional Liability insurance policies through United Specialty Company, a Markel Corporation subsidiary, rated A (excellent) by AM Best, and offers capacity up to $5 million in limits for businesses up to $50 million in revenue. It also provides coverage for Cyber Liability and Technology Errors and Omissions.
About At-Bay
At-Bay is the InsurSec provider for the digital age. By combining world-class cybersecurity technology with industry-leading insurance expertise, At-Bay was designed from the ground up to empower businesses to thrive in the digital world by providing end-to-end prevention and protection. A full-stack insurance company, At-Bay offers Cyber, Tech E&O and Miscellaneous Professional Liability (MPL) policies. At-Bay is backed by Acrew Capital, Glilot Capital, the HSB fund of Munich Re Ventures, Icon Ventures, ION Crossover Partners, Khosla Ventures, Lightspeed Venture Partners, M12, entrepreneur Shlomo Kramer, and Qumra Capital. www.at-bay.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20230928120065/en/
Contacts
Jackie Gray
jackieg@at-bay.com
