At-Bay has announced At-Bay Stance, an InsurSec solution designed to help small and medium-sized businesses (SMBs) close their security technology and skills access gap through a single cyber insurance policy, according to the company.
InsurSec combines cyber insurance and security, At-Bay noted. The solution consists of prevention and detection technology, the expertise of cyber professionals and the support of an insurance company to help businesses manage cyber risks.
At-Bay CEO Rotem Iram commented on InsurSec and what it means for SMBs:
"A fragile technology stack and complex security tools require budgets and expertise that small businesses simply cannot afford. By combining insurance with security into InsurSec, At-Bay brings the incentives, scale and expertise needed to bridge the SMB cybersecurity gap."
At-Bay Stance is the world's first InsurSec solution, the company noted. It helps SMBs identify and mitigate cyber risks through a single cyber insurance policy.
What At-Bay Stance Offers
At-Bay Stance includes:
- Exposure Manager: This platform lets SMBs integrate their existing security controls with At-Bay's external scans to centralize their threat and vulnerability data.
- Managed Security: SMBs can access At-Bay experts that provide intelligence-powered recommendations on what to do to stop cyberattacks.
- Response & Recovery: At-Bay identifies the root cause of an SMB's security incident, evaluates its impact and develops a plan to help the business recover from it.
- Partner Network: SMBs can receive discounts on third-party security products and solutions.
At-Bay Stance will be available to At-Bay customers purchasing a new Cyber or Tech E&O excess or surplus policy beginning May 1, 2023 and to those renewing their policies starting August 1.
At-Bay's Admitted CyberInsurance for SMBs
The At-Bay Stance release comes after At-Bay in January 2023 launched an admitted cyber insurance product to address the insurance and security needs of small businesses, according to the company.
At-Bay offers admitted cyber policies written through Clear Blue Insurance Company and Clear Blue Specialty Insurance Company, the business said. Admitted cyber policyholders can access At-Bay's Security Report and Active Risk Monitoring services. They also can receive support from At-Bay's claims team and the same preferred cyber response providers offered to the company's surplus policyholders.
Businesses can use At-Bay's cyber insurance and security products to protect against cyber risk. At-Bay has secured at least $292 million in funding and had a valuation of $1.35 billion as of October 2021.