At-Bay

Financial fraud is a growing menace impacting businesses of all sizes. In 2023, the FTC reported 2.6 million cases, totaling $10 billion in losses — a billion-dollar increase from the prior year. From credit card fraud to identity theft, these crimes are evolving and hitting wallets harder than ever. Insurance companies are responding with robust coverage in cyber policies. But it's not just about having insurance; staying informed about risks and warning signs is crucial. Learn more about financial fraud here: https://lnkd.in/gx2FvZgt

🚨 Imagine waking up on a Saturday morning to find your business paralyzed by a ransomware attack demanding $2 million. It could be the worst day of your professional life. Thankfully, cyber insurance can be a game-changer. With the right coverage, you can swiftly recover, minimize downtime, and reduce the financial impact. Insurance is there when you need it, but hopefully, it never gets to that point. This is the power of bringing insurance and security together. By using real-world claims data to understand the most common and severe threats and helping you secure yourself against them, #InsurSec can help you avoid a claim altogether. At Bay’s Chief Business Officer and GM of Security, Thomas Dekens, delves into this critical topic in an Information Security Media Group (ISMG) interview at RSA Conference 2024.

What a winning start to the summer: Always love spending the day with our Boston and Philadelphia brokers at the ballpark, hosted by our Northeast Underwriting team. Rae Haynes, Griffin Goldman, Greymer E. Rodriguez, Trisha Reyes, Caitlyn M., Matthew Bonino, and Scott Gold swapped the desk for the baseball diamond for some quality time with our broker partners. ⚾️ Check out the action from both events!

What an unforgettable afternoon with CRC Insurance Services Brokers at an event hosted by At-Bay Underwriter Jeffrey Vincent at LIV Golf Nashville, where the greens were lush and the camaraderie was top-notch. 🏌️♂️✨ Big shout out to our fantastic attendees!

VPN deployments surged in 2020 as companies transitioned to remote work. Now, hackers are hoping those devices have been left unmaintained by SMBs — and it’s working. At-Bay’s 2024 InsurSec Report reveals 58% of ransomware incidents were attributed to remote access vulnerabilities. Self-managed VPNs were the entry vector for 63% of those events. IT Brew wrote about these findings in a recent article. Check it out to understand the risks of self-managed VPNs and learn the best practices for keeping your network secure. As Adam Tyra, General Manager of Security Services at At-Bay, explains: “These devices have to get configured properly on an ongoing basis. They have to get patched. They have to be maintained. It’s not a set-it-and-forget-it solution.” https://lnkd.in/g4wGNSG6

Ransomware is like a moving target – as soon as you think you understand it, it shifts direction. Attackers are always adapting, making it challenging to stay ahead. 🎯 Our latest findings shed light on the evolving tactics of attackers and the vulnerabilities they exploit. Dive into the details in our 2024 InsurSec Report and learn how to fortify your defenses. https://lnkd.in/d2kxvk6c

🎉 Exciting news! AM Best has affirmed the Financial Strength Rating of At-Bay’s E&S carrier, At-Bay Specialty Insurance Company, as A- (Excellent) with a "Stable" outlook. This rating indicates AM Best’s expectation that At-Bay’s very strong balance sheet and ongoing strategic initiatives will continue to drive consistent operating performance following its 2023 annual review. Ari Fischel, our CFO, summed it up perfectly: “The AM Best rating is an important validation of our team’s work as we continue to build the next generation of insurance for mid-market and small businesses. Remaining committed as ever to underwriting discipline and service excellence, we look forward to the year ahead.” Kudos to our team for their unwavering dedication! 🚀 Here’s to more milestones ahead! https://lnkd.in/g7ruNZKb

We are thrilled to be awarded the Silver Standard on LGBTech's EquaLGBT+ Index. 🏳️🌈 At At-Bay, we believe that diversity fuels innovation. We are honored to receive this recognition as it highlights our collective commitment to fostering a workplace where everyone feels valued and empowered to be their authentic selves. Our entire team, including many dedicated LGBTQIA+ employees, contributes to building an inclusive company culture, leading to this honor. A special shout out to Ricki Nordman Harell, Itamar Shoham, and Nir Almog for representing us and receiving the certificate at the EquaLGBT+ gala. We wish the whole team could have been there!

Meet Jacob Lieberman, AVP and Team Lead at At-Bay, where he excels as our top-performing Cyber underwriter. ⭐️ After getting a bachelor’s in math, Jake stumbled into the world of insurance. Intrigued by the industry’s potential, he quickly embraced his first role as Assistant Underwriter and hasn't looked back in his 10-year journey. His knack for numbers and problem-solving allows him to create personalized solutions that effectively minimize cyber risks for our brokers and clients. Dig into Jake’s insights here: https://lnkd.in/g6UKNWu3

Small to midsized businesses face many #cybersecurity challenges, often compounded by limited budgets and resources. 🚨 Traditional cybersecurity providers also struggle to meet the specific needs of SMBs, failing to offer cost-effective solutions tailored to their requirements, according to Thomas Dekens, chief business officer at At-Bay and general manager of At-Bay Security. Watch now ▶ https://lnkd.in/dA4NSGzr #ISMGNews #cybersecurity #ISMGStudio #RSAC2024 #RSAC Rahul Neel Mani