Arch Insurance Launches Proactive Cyber Insurance Solution: Arch CyPro

Rhea-AI Summary

Arch Insurance launches Arch CyPro, a pioneering cyber insurance solution, to proactively safeguard businesses from evolving cyber threats.

Positive

• Arch CyPro aims to redefine cyber insurance policies, with customizable policies available in all 50 states and a solution-first mindset. Arch CyPro is powered by the Arch Cyber Risk Engineering Team (ACRE), bringing advanced analytics and individual risk guidance to the underwriting process.

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• None.

The launch highlights Arch's position as a leader in the primary cyber insurance market.

NEW YORK--(BUSINESS WIRE)-- Arch Insurance announces Arch CyPro, a pioneering cyber insurance solution designed to proactively safeguard businesses in an environment of rapidly evolving cyber threats.

"Arch CyPro is our solution for the dynamic and ever-growing threats of cyber risks. With a strong financial foundation and a reputation for consistent underwriting excellence, we aim to redefine what brokers and policyholders can expect from a cyber insurance policy." said Marilyn Marshall, Executive Vice President, Professional Liability and Cyber at Arch Insurance.

"Our dedicated claims experts and customizable policies available in all 50 states position us as a front-runner in this space. But what sets Arch CyPro apart is our solution-first mindset and emphasis on proactive risk management."

Arch CyPro is powered by the Arch Cyber Risk Engineering Team (ACRE), a specialist cyber team integrated into every stage of the underwriting process. ACRE brings advanced analytics, rapid decision-making and individual risk guidance to the table.

"We've also aligned with strategic cybersecurity risk management service partners to assist in the implementation of critical controls for our policyholders to enhance their cyber security maturity." added Jamie Schibuk, Executive Vice President, Professional Liability and Cyber.

Arch CyPro will be distributed through current broker relationships, ensuring a targeted and streamlined process for existing and potential policyholders. To learn more, visit archinsurance.com/cypro.

About Arch Insurance North America

Arch Insurance North America, part of Arch Capital Group Ltd., includes Arch’s insurance operations in the United States and Canada. Business in the U.S. is written by Arch Insurance Company, Arch Specialty Insurance Company, Arch Property & Casualty Insurance Company and Arch Indemnity Insurance Company. Business in Canada is written by Arch Insurance Canada Ltd.

About Arch Capital Group Ltd.

Arch Capital Group Ltd. (Nasdaq: ACGL) is a publicly listed Bermuda exempted company with approximately $17.4 billion in capital at June 30, 2023. Arch, which is part of the S&P 500 Index, provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries.

Cautionary Note Regarding Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward−looking statements. This release or any other written or oral statements made by or on behalf of Arch Capital Group Ltd. and its subsidiaries may include forward−looking statements, which reflect the Company’s current views with respect to future events and financial performance. All statements other than statements of historical fact included in or incorporated by reference in this release are forward−looking statements.

Forward−looking statements can generally be identified by the use of forward−looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or their negative or variations or similar terminology. Forward−looking statements involve the Company’s current assessment of risks and uncertainties. Actual events and results may differ materially from those expressed or implied in these statements. A non-exclusive list of the important factors that could cause actual results to differ materially from those in such forward-looking statements includes the following: adverse general economic and market conditions; increased competition; pricing and policy term trends; fluctuations in the actions of rating agencies and the Company’s ability to maintain and improve its ratings; investment performance; the loss of key personnel; the adequacy of the Company’s loss reserves, severity and/or frequency of losses, greater than expected loss ratios and adverse development on claim and/or claim expense liabilities; greater frequency or severity of unpredictable natural and man-made catastrophic events, including pandemics such as COVID-19; the impact of acts of terrorism and acts of war; changes in regulations and/or tax laws in the United States or elsewhere; ability to successfully integrate, establish and maintain operating procedures as well as integrate the businesses the Company has acquired or may acquire into the existing operations; changes in accounting principles or policies; material differences between actual and expected assessments for guaranty funds and mandatory pooling arrangements; availability and cost to the Company of reinsurance to manage the our gross and net exposures; the failure of others to meet their obligations to the Company; a disruption caused by cyber-attacks or other technology breaches or failures on the Company or the Company’s business partners and service providers, which could negatively impact the Company’s business and/or expose the Company to litigation; and other factors identified in our filings with the U.S. Securities and Exchange Commission (“SEC”).

The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with other cautionary statements that are included herein or elsewhere. All subsequent written and oral forward−looking statements attributable to us or persons acting on the Company’s behalf are expressly qualified in their entirety by these cautionary statements. The Company undertakes no obligation to publicly update or revise any forward−looking statement, whether as a result of new information, future events or otherwise.

Source — Arch Insurance North America
Tag — arch-insurance

View source version on businesswire.com: https://www.businesswire.com/news/home/20230912295894/en/

Media:

Greg Hare

Arch Capital Services, LLC

ghare@archgroup.com

Source: Arch Capital Group Ltd.