Probitas starts underwriting cyber insurance

UK-based Probitas 1492 announced that it started to underwrite cyber insurance.

“We have spent the past couple of months establishing Cyber as a new line of business for the syndicate and building out the framework for future ambitions, so it’s exciting to now officially start underwriting and supporting the market. The cyber market needs to continue working towards a more dynamic and collaborative approach to understanding client risk maturity and quantification. It is for this reason we are building Probitas Labs, which aims to be the market’s centre of excellence for cyber. Our goal is to continually generate fresh insights on risk analysis by developing products, services, and partnerships with industry experts to support and enhance cyber risk transfer within the market.” – Richard Taylor, Head of Cyber & Technology.

According to the press release, Probitas Labs will focus on three main areas: Cyber Research & Development, including data analytics and market platforms; Client & Vendor Services, which will help support clients before, during and after a breach and, lastly, Thought Leadership.