Smart Cyber: Made for Financial Services

In the event of a cyber attack, both confidential information and goodwill are at risk — which threat actors leverage for large ransom payouts. The frequency of ransomware attacks on the financial sector remains high with 65% of financial services firms being hit by ransomware in 2024.

The bright side

Despite the current threat landscape, we’re offering broad policy language, competitive terms, and endorsements made with financial services in mind.

Download endorsement

Made for Financial Services

Our endorsement extends coverage to specific types of computer systems and software commonly used in the financial services industry: trade management and execution platforms, money management platforms, proprietary trading platforms, business intelligence software, bookkeeping software, payment gateways, tax management software, and financial planning software.

Coverage

Industry-Specific coverage

Payment Card Reissuance Costs

Coverage extends to cover the cost to reissue credit and debit cards in the event of a cyber event.

Client Payment Fraud

Cyber crime coverage extends to cover losses incurred by the Insured’s clients or customers that were misled, tricked, deceived, or manipulated by a third party purporting to be the Insured or any of the Insured’s products.

*Coverage for client payment fraud is not available to banks, credit unions, or mortgage lenders

Financial Fraud Intermediary

Financial fraud coverage expands to include an Intermediary - either an Insured Representative or Seller Representative.

Appetite

Limits up to $10M

Primary risks earning up to $5B in gross annual revenue

Excess risks earning up to $5B in gross annual revenue

Claim scenario

Wealth-Management Firm

*Eligibility for such program is determined when you apply for coverage. Policy quotes, terms and conditions, and premiums are made in accordance with Corvus Insurance’s underwriting guidelines. The policy, not general descriptions or material within this informational, will form the contract between the insured and our insurance carrier partners. Coverage may not be available in all jurisdictions.

*Financial industry statistics from: Sophos News: The State of Ransomware in Financial Services 2024

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Such information will be subject to our online privacy policy found here: https://www.corvusinsurance.com/privacy-policy.

Corvus Insurance Agency, LLC (CA License No. 0M20816), is a wholly-owned subsidiary of Corvus Insurance Holdings, LLC.